This may be huge news, but we can't tell how far along the development is. Telltale Games, who were very publicly shopping around for Wii programmers, made a tentative mention of their console plans in an interview with Shacknews. CEO Dan Connors said that they're working on putting their episodic Sam & Max series on the Virtual Console (and also on the download service for one of those other consoles or whatever.)
This is the first evidence we've heard of any game coming to the VC that isn't an old console game. It doesn't quite count as original content on the VC, because the Sam & Max games are already out for the PC, but it's a step in that direction. Plus, hey, more games!