Wii’s Virtual Console is one of the things Nintendo still hasn’t explained much about. We know that you will be able to download old games and play them on the Wii, and that the console will support 24/7 Connect, meaning it’s always connected to the Internet.

“When creating a [full-priced] packaged game to be priced at 5,000 Yen ($25) developers tend to feel the need to create a rich game,” Nintendo’s Satoru Iwata told Japanese site Tech-On. “Yet it is possible to create a reasonably entertaining game in two months with a team of three.”

“Offering such games for 500 Yen ($2.50) over a network could lead to a reasonable number of people purchasing it. By offering an environment that allows this, we hope to encourage more developers to pursue basic yet enjoyable gameplay.”

Does that mean Virtual Console will be a like Valve’s Steam service? Making it easy for independent and small developers to release their games far cheper than using regular publishers. Couple that with the innovative controller, there’s no way of telling what kind of crazy small games might be avalible on the Wii one day.