Image is from trustedreviews.com.
My verdict: This thing is what Wii collectors want to own as we move forward.
However, two years ago I wouldn't have been so impressed by this thing. It's all about timing.
The Wii mini is completely stripped of all the features that set the Wii apart from the Gamecube when it launched in the mid-2000's. The disc drive is a top loader and there is no out of the box (or any other kind, really) of internet connectivity. It is a small, compact box of sturdy red plastic bereft of any thing fancy or awe inspiring. Two years ago, I'd have turned my nose up at this thing. I think I might have read an article about it about that time and done that exactly.
In 2014, this thing is exactly what a retro gamer like myself wants. I love the Wii - so much that I have burnt out two disc drives since 2006. This thing is built like a brick and has excised all the parts of the original Wii model that were so prone to breaking. It doesn't have the ill-conceived WiiConnect24 setting that claimed the video cards of so many Wii owners who didn't think to disable it. It doesn't have the front loading cradle that wears out much too fast. There aren't any distracting blue imbedded LEDs. No cluttered menu full of bloat ware that was never supported and could never be removed. This machine is built for playing Wii games and that is it.
There are a couple of cons: There is less noise suppression for the disc drive than the original model Wii so you'll hear the laser moving about spooling data. Not a big deal if you're used to playing a Dreamcast or early model Playstation 2 - but enough that it's noticeable compared to say a WiiU or PS3. There is no SD card slot so players who like to upload homebrew or store their "back ups" on an external drive will be out of luck. That's not a con for me but I know many Racketfolk prefer that option.
Edit: As pointed out to me after my initial review, the Nintendo Wii Mini does not support component out. While I have always felt that the difference between Wii games over AV cables versus component cables is negligible, this could be a sticking point for some prospective buyers.
I suppose the lack of Internet could be a con but as I said, this is a review of the machine in January 2014 - if your concern about Nintendo's support for the Wii's online infrastructure going forward is the deciding factor on whether or not you purchase a Wii, then you've got a completely different set of priorities than the rest of the world.
One of the rarely spoken facts about our hobby is the need to occasionally purchase redundant hardware to ensure that we can continue to play our favorite old games for decades to come. I think that for any Wii enthusiasts looking to proactively protect their access to what I feel was the best software library of the last generation, this is a great way to do it.
