Punch Out!! Fact Sheet
Punch!! Out Wii, a remake of the NES Classic Punch Out!!, will be hitting the Wii after the franchise has taken a 15 year break. Players will face off against familiar opponents like Glass Joe and King Hippo with Wiimote and Nunchuck in hands. These boxers come back to life in 3D cel-shaded, complete with their own back stories and fighting animations that will recapture all the fun of the original Punch Out!! Games.
Two ways to play!
Punch Out!! Wii will give the players two different ways to play. The first, and most fun way are the Wii's motion-sensitive controls. Players can face off with Wiimote in one hand and Nunchuck in the other! Simply swing your arms towards the opponent on screen to perform punches. Players are also able to combine arm movements with the movement of the control stick to perform hooks and jabs.
An alternate control scheme has also been implemented into the game if players do not wish to use the motion-sensitive controls. Players are able to turn the Wiimote on it's side and punch by using the 1 and 2 buttons and also use the D-Pad to throw hooks and jabs, and to dodge the opponents punches. Fans of the classic NES version will be glad to play an updated version of the game with the controls they grew up with.

Characters!
A few of the most well known characters will return for the Wii remake, a few of these being Little Mac, Doc Louis, Von Kaiser, Glass Jo and King Hippo. Along with other unannounced characters.
Special features!
Players will be able to obtain special 'Star Punches' during fights. These will allow Little Mac to take more health from his opponent in a match with a single punch!
Punch Out!! Wii is expecting a 2009 release date.

Source: http://gonintendo.com/?p=74504