So the DS collection is sort of pointless and value will drop like a rock soon.

Not really, it's a limited print promo item. It goes for 50 on ebay.

I hope this means they'll soon offer something else from Club Nintendo.

I just hope all these recent announcements point more and more to the confirmation for the DSi virtual console.

They could call it the Virtual Game Boy. A lot of their Game Boy games have never been re-released so it could very well be a hit.

But hopefully you would be able to transfer anything SNES generation or earlier over to your DSi to play on the go too.
Is a DSi powerful enough to emulate an N64?

Now you have me intrigued. I think the DSi can easily emulate NES and SNES games, but it depends on what type of coding an N64 games. Remember, we didn't get Majora's Mask till much later since it was apparently too big for the service.

I think that would only make the VC sales soar if Nintendo brought them to the DSi, so it probably makes too much sense for it to actually happen.

It has been confirmed for Japan. And someone who went to a DSi demonstration hear a Nintendo rep mention DS VC was on the way. I think they just want to make sure the games are even more hack proof than on Wii. Handhelds were always more susceptible to piracy. They might even be trying to make sure the R4 is blocked entirely (good riddance, so help me if I find out that killed any chance for a World Ends With You sequel...).

$2 dollars a game? What an rip off! e-cards cost the same amount of money and they don't even have the Zelda game...

The answers are NO, NO, and HELL NO. Every VC download includes not only the icons/rom/instructions but also a copy of the system emulator written only for the Wii. If Nintendo won't bother with transferring Wii-points/Nintendo-points they then probably won't bother transferring download tickets to the DSi from the Wii either. (Not to forget that the everything written to the SD card is encrypted with a SD key which is different for the Wii and DSi that has been broking on the Wii side permanently...)

Judging by Homebrew, NES/SNES/GENISES/GBC all work with the DS but their is no way to get N64 support powerwise not to mention buttonwise. GBA compatibility should be 100% because the CPU for it is still there. Although I'm still hoping for a SD/gameslot adapter for GBA games....

As has been pointed out I also don't expect NES and SNES games any time soon for the DSi, but GameBoy series titles should be more possible. I really want to try games like Metroid 2 or Link's awakening, but at this point there doesn't seem to be an easy (and legal) way to do it.

Of course, game & watch games are a start.

GBAs and GBCs are being sold pretty cheap and you can buy a used copy of those games for cheap as well.