Just how fast is this Wii of yours really?

Apparently quite a bit, as long as it's not compared to the unfairly brawny Playstation 3 or the Microsoft priced Xbox 360. Better compare the Wii to the Gamecube, a console much more powerful than Sony's PS2 and quite capable of producing the rather impressive graphics of Resident Evil 4:

Beside the obvious differences of the Wiimote, the WiFi networking, the Channels and the Virtual console, the inclusion of a full-sized DVDx6 (that's its speed really), 16:9 support, the new design and the SD cards thingy, the Wii improves on the core Gamecube hardware as well.
According to Felix Domke's speech at the 23c3 Chaos Communication Congress in the free and always radical city of Berlin (see the speech here), this is what the difference between the two consoles actually looks like, when compiled into a chart by a gnome:
MaxConsole, on the other hand, estimates that the Wii is actually 1.5 times faster than the Gamecube, and then goes on to provide an extensive list of specs. Read it here. Just don't buy this outrageous Wii bundle...

(c) gnomeslair.blogspot.com