The SMS was horrible because it wasn't funny, it was lame. The Smash Bros. one works because it's all about what the game is all about: the 'kidzy' characters hitting each other! Basically it took what was Nintendo's image by then and turned it upside down. SMS was just stupid and grating.
For a game like Smash Bros that's a good commercial. Mario isn't. Mario people know, you don't need to make them laugh, just tlel them it's good. The Nintendogs commercial sucked, but I bet kids liked it fine. The GBM sounds hilarious, and it'll appeal to the late-teenage early twenties demographic pretty good. Plus, it's a GBA so it's not exactly like anyone doesn't know what it is. It makes the point that the GBM is the sexiest thing ever, so sexy you want to schlup it.