Let's see again. 40 % of 20M has internet connection, so the base falls down to 8M.
Out of the 8M, a lot are surely not interested in playing old games all over again. New games are much better, they don't want to play with a gamecube controller, the reason they bought Wii was the Wiimote, and there is no motion sensing in VC.
Let's say the above is 33 %, even though that does no have to be correct at all. Then we are down to 5.3M.
Then there are kids who don't get to PAY for internet games, as the parents don't understand the point of VC, or just people who don't understand the point of VC.
Let's say that is 10% which leaves us down to 4.3M potential owners.
Nintendo reported that the most bought games were the N64 then Snes, then NES and then some of the others. So let's say the average is 666 points pr download, even though that is too low.
So then, we get 3 downloads pr card. Now, if every one of these 4.3M owners had bought a card, we would have had 12.9M sales, or 12M if we take in count that the number of points is wrong. Now, I am sure a lot of people have not used all of their numbers, so I guess that brings the total sales down to 11, since perhaps 1/12 of the points aren't used. I'd guess 2/3 of the 4.3M has used money on the Browser. So that takes away 0.7M more, and brings it down to 10.3M. Of course, a lot of people have bought more than those 3 games, but they are a minority, I am sure.
So Nintendo has sold OVER 10M. I am sure I have forgotten some factors though.