I'm of the opinion that the Virtual Console in the US pretty much sucks right now for a strategic reason. Nintendo wants every Wii owner to invest in Wii games like Madden and Red Steel. Unleashing big hitters like Super Metroid and Mario 3 would detract from that. Hell, most gamers won't have time for anything other than Zelda and WiiSports as it is (a very nice mix of fun with casual/hardcore appeal).
But anyway, it's very important to Nintendo that 3rd party offerings sell well so they don't want to distract from that. Heck, the same could be said even for the Virtual Console. Other than a few first party N games (SNES stuff and Mario 64), the most captivating stuff has been from the Genesis and TurboGraphx camps. I feel that's for a marketing reason. Download Punchout or Soloman's Key? Well, if you can't choose what you initially want, maybe you'll try out Soloman's Key... Same can be said with Bonk's Adventure, Super Star Soldier, and the like (which if the other GAF thread is evidence, are highly purchased).
In my opinion, at this moment, Nintendo is actually HELPING the Virtual Console by keeping their own big games away from it for now, which draws attention to the less popular "curiousities" that are available, which will be essential in making the VC everything it can be library/content wise.