Ah, crap.

http://www.cube-europe.com/news.php?nid=7908

"The much discussed games-downloading is bought up again, but unfortunately there’s some bad news. Nintendo will be charging you to download games from Nintendo's prior consoles. There will be several service types, such as free downloads which expire after a limited period. Iwata suggested that games may be downloadable for free as a reward for buying games, similar to the Stars Catalogue but much, well better to be honest. The downloads will be stored on the console's inbuilt 512MB memory, but if you fill that you can insert an SD memory card and load the games onto your computer. However file sharing will be unavailable, to prevent the games being pirated."