You said that the PS3 could run on High without any downgrade, here we are diccusing the amount of downgrade needed to play such games... is not the same...

And yes, Wii can have those kind of games in the same sense as the PS2, but the game will not look the same as the HD versions (Probably will look like crap if is a bad port), in order to make a good game (Talking about graphics) is ideal that the game is developed to take advantage of the Wii features, the Wii can show good graphics, but usually the devs don´t use it for it...

I think theoretically, it could with a lot of revamping. The lower GPU could be compensated by software driven graphics acceleration to handle some of the weight that the gpu is normally supposed to take care of. It'd come down to a high end engine designed for the Wii and then rebuilding the game on that. Likely more money than the ROI, which is why such things don't happen. Now if there was such an engine readily available to be licensed out, it'd be a much larger possibility

In general Bioshock isn't that much different from System Shock 2, Metal Gear Solid 4 is not that much different from Metal Gear Solid 2 & 3, and Grand Theft Auto 4 is not that much different than Grand Theft Auto 3; all were games that were developed for platforms which were noticeably less powerful than the Wii.

Realistically, you could create similar games on the N64/Nintendo DS if you wanted althought the downgrading in non-graphics related areas would become far more noticeable then.

In content, it can.

But in graphical achievements, nope.

Yeah, but now that we've seen the new versions of the games, let's not look back. The Wii needs unique game experiences that don't pale in comparison like those games would.

I guess my simple question would be that if it's possible, why aren't the developers cashing in on the Wii's sales and porting every single PS360 game to the Wii?

Yes its possible, with downgraded graphics but enhanced controlling.

I really dont think the wii can handle this all at the same time, two huge scenes completely running ingame, even with XBOX 1 graphics:

MGS4 SPOILERS:

http://youtube.com/watch?v=tJTnsPZpBnI&feature=related

Of course it's possible, but I don't believe anyone will actually do it. Very few developers opt for realistic non-stylised graphics on the Wii - possibly to make it seem different to what we've been seeing last generation. Take Fifa for example:

I can't imagine playing a game like Bioshock in that style.

Why aren't all the 360 games being ported over to the PS3? Why did Rock Band get a half-assed port despite being the exact kind of game the Wii lends itself to? Why do people keep hoping the next Sonic game will be good? Why did anyone buy Lair? Why do they keep making Mortal Kombat games? Why do people keep buying them for that matter? Life is full of many many mysteries.

 Simple fact is no new genres have emerged on consoles this generation. Consequently, all the games done could have been done in a limited fashion last generation. Every console this generation is stronger than last, and thus could handle any game made with the appropriate modifications.