Iwata confirmed in the Wii U Nintendo Direct that along with the spring update (which is also set to improve Wii U loading times between software) will be the arrival of the Wii U Virtual Console. 

The Virtual Console will allow you to play games on the Wii U GamePad as well as the TV and each one will have its own Miiverse so you can share experiences with friends. Supported formats announced so far are NES, SNES, N64 and GBA. 

Iwata did state that the full line-up of games, much like on 3DS and Wii, will not be available at launch. 

If you have already downloaded a Wii U Virtual Console title on Wii, then you will be able to download the Wii U version for a reduced price. 

That's not the only benefit Nintendo are offering though. Starting from this very moment is the 30 cents for 30 days trial campaign which sees select titles at a reduced price for 30 days. The demo titles include Balloon Fight, Fire Emblem, Mother 2, Kirby's Adventure, Super Metroid and more, all available one month at a time.

This months demo title is Balloon Fight, a title that Mr Iwata is particularly fond of as he helped develop it way back when. He challenged viewers to set high scores and posts them as screenshots to Miiverse. 

So, no HD GameCube titles. That could come as disappointing news for those of you that were after a HD Wind Waker...