So in a nutshell, what we have is a device that can improve controller orientation (without line of sight to the censor bar). How many games that relied on the censor bar would have been better if we didn't have to have such perfect aim and could rely more on relative positioning instead? My short list is "almost all of them".
It seems like possibly one step closer to removing the need for the censor bar in future games and eventually Wii2. I'm all for that. And I think it's almost guaranteed they'll include it with games that need it, and possibly bundled with the system. Though if you need 4 of them, that could suck.
(For people asking about this improving older games, the answer would be no, not without some form of emulation hack from the wiimote and/or console which would be kinda hard.)