It 'requires 220 open blocks in' the Wii System Memory.  Guh, Nintendo really needs to do something about using SD Cards only as back up storage.

Does it have CD music?

^Good question considering that it has possibly my favorite shmup soundtrack.  It'd be a shame if the audio were compressed or something.

Yes, it has a redbook soundtrack. And of course it would need to be heavily compressed, otherwise the internal memory would be filled instantly. It's 512MB or 2264 blocks (on my system atm, may vastly vary depending on whether newer firmware versions can take chucks of it as well).

I downloaded it.  220 blocks.  It has the CD audio, but it is compressed.  However, it still sounds pretty clear.

Well, realistically...Compressing a WAV file to Mp3, Ogg or a custom format isn't going to cause much noticable loss. So that sounds about right.