At his GDC 2009 keynote, Nintendo president Satoru Iwata will announce, Apple-style, that a Wii Shop Channel update will be available to all. We ran over to the Wii and began the agonizing update process to discover -- an "SD Card Menu" ...? Yes, it would seem that the vaunted "storage solution" has arrived.
"Welcome to the SD Card Menu! Here, you can launch channels saved on SD Cards by temporarily utilizing the Wii System Memory." CONFIRMED. That's right, launch from SD.
If your system memory is full, you still have to delete stuff, but there's now a streamlined, automated process to do that from this new SD Card Menu. It will even choose stuff for you, if you want.
Update: The new Wii system update also adds support for SDHC cards up to 32 GB -- that's alotta Virtual Console games folks!