I bought Kid Icarus. I haven't had much time to play it, but I've beat the first stage and read through the Operations Guide, and I'm impressed with it as an NES game. It works on a code-based "save" system, but I find the quick save option on the Wii to be less of a hassel.
Having played the game only for a short while, I can already understand why people would call it a brilliant hybrid of the platforming elements of Mario/Metroid, the action-adventure elements of Zelda/Metroid, the art design of Mario/Metroid/Zelda, the upgrades from Zelda/Metroid, etc. Amazingly, though, it still retains its own unique identity and style.
...But for all of my observations on the nuances of the game's mechanics, I was expecting a little more. Like most of you, I imagine, I had never really known of Kid Icarus/Pit until his badass appearance in the Super Smash Brawl trailer. Since then, every Nintendo fan clamored to see Kid Icarus on the Wii's VC. I guess the hype got to me. But let me assure you, it's definitely worth the 500 points.
And let me add, that Kid Icarus, if revived for the Wii and given the same treatment as Nintendo's other brilliant projects, probably will become the new Ocarina of Time for this generation.