Ok so playing Super Mario 64 with some other newer version of a joystick (because the N64 one wasn't so good) does sound appealing. however a game like Ocarina of Time that uses the C buttons wouldn't be so good with a stick and thats where the N64 controller really shines.
I'd like to see someone release a different Wii remote to go with the Nunchuck, one that could act as an N64 second half... I mean what if instead of a remote the right half of the Wiimote/Nunchuck duo was just like the nunchuck but instead of having a joystick it was fatter and it had A, B and four C buttons? or maybe just A, B, X, Y but when you held one of the shoulder buttons A, B, X, Y changed to C up, C down, C left, and D right? I guess it's not such a good idea because not everyone would have one and no game developer could rely on any one person having one but it could be a nice new option for the VC...