We here at ismashphone always support jailbreaking endeavors since there is always a reason to jailbreak your precious iPhone. Those who need further convincing should read our '10 reasons to jailbreak the iPhone' post and believe me you will be converted too. However if you still need convincing them maybe the N64 emulator will tempt you.
ZodTTD has released an N64 emulator which also boasts of Wiimote support via Bluetooth. The n64iphone emulator is available in Cydia for $2.50 but this doesn't include the ROMs.