Hmm, actually. I'm definitely getting SM64 mainly sense I've only gotten to play through it once, shortly after I beat it on my N64, my system and games were stolen. I never got another after that. I do remember thoroughly enjoying it though, so I do want to play it again and the new features just make it an added bonus. Personally, I don't want to buy another N64 as Mario 64 was about the only N64 game I've ever played.
As far the older graphics and such with this system, it doesn't bother me. We did have SNES graphics with GBA no? I don't think many complained. Yes, I am kind of turned off by the poor attempts at games that some developers, mainly EA, are putting out. It doesn't look good at all when it came look pretty decent. In turn the graphic hinderances of the N64 are nothing something that bother me at all. I'm not much of a graphic whore, and don't really expect my handheld, which is a huge step up from the previous handheld, to do much better. Mainly I can settle for this. It doesn't bother me.
And yes we do see Sony and their PSP with even better graphics, closer to currentgen, but sadly it doesn't fall into my pocketbook quite yet, and its other features don't appeal to me. THat and I can't find very many games I want with the system. So that's why I'm waiting till it drops in price for me to get it. It's just something that I feel doesn't appeal to me outside of graphics quality.
EDIT: One thing I don't get is all the constant criticism on both sides. Why is it a bad thing to buy games you love and enjoy, even if they're ported again? I don't see why someone else should determine how another person's money is spent. Maybe people actually enjoy nostalgia? It's a nice feeling to a lot of people. Why is this such a problem for you? It's not like any system out there on the market now, or soon, will lack any original content.