I tuned in this morning at around 10:30 EST and it wasn't out. Came home at 2PM and there it is!

Initial thoughts: it looks cleaned-up like the emulator version but the sound seems a bit tinny to me. Does anyone else notice this or is my sound system messed up? Anyway, it feels great to no longer worry about this game and the continual N64 controller stick chalk issues that most controllers are facing 10 years later.

Yep, it definitely has some sound issues.  Most sound effects, along with one or two background tracks, sound as if they have a very low bitrate.  I also noticed slight skipping of music every now and then, which makes this the first Virtual Console title I've come across that isn't emulating the game perfectly.

Other than that, the game plays perfectly, though I'm going to need to get used to pushing the L button down hard on my classic controller to drag items, since the trigger is pressure-sensitive this time around.  I've already released a few items on accident due to this.

For some reason the L button is mapped to the Z button on the GCN controller.  That's my only complaint.  Otherwise, I don't notice a problem with the sound because I don't recall the original all that well.

So what controller is used to play it? The Classic, or the Gamecube, or the Wiimote? If it's the Classic, I'm gonna have to hotfoot it somewhere to buy some, heh.

Classic and Gamecube controllers work with Mario Kart 64 and Super Mario 64.