GameCube lacks a programmable T&L engine, so oftentimes the lighting might be a little lacking. However, if you want to see some very nice dynamic lighting, check out Luigi's Mansion or Rogue Leader. It may be a little troubling to code around it, but it certainly does not mean that the capability isn't there.
At any rate, I am fully expecting the GCN version of Splinter Cell to waste the Xbox version. Let's see if time proves me right.