Nintendo president Satoru Iwata revealed today that Wii users can transfer their Virtual Console games over to the new system using an SD card. Here's how it works.

A look at the game's manual from our unboxing, sheds a little more light on the matter. In general, you can transfer most of the data* from your Wii. For this you need both systems hooked up to a broadband Internet connection, an SD or SDHC memory card (with at least 512 MB of space), and two Wii remote controllers – one for each system.

Nintendo warns that once you transfer your data to the Wii U, it cannot be transfered back, so be careful. The data will migrate in one lump, so you cannot be selective about what goes over and what doesn't.

Once you start up the two consoles (either showing on two different TVs or on the same one), you start with the SD card inserted into the Wii U. From here select Wii System Transfer from the Wii Menu app. Follow the onscreen directions and transfer the SD card to the Wii when prompted. On the Wii, open the Shop Channel and download the transfer app. Transfer the data from the Wii to the card as instructed. Put the card back into the Wii U, confirm the message, and select Transfer. Once the data is saved onto the Wii U, it will be deleted.

Of course, we all have larger questions about the system's broader online structure and other features, such as how players' Network IDs are shared, how third-parties will use your ID for their online games and other services, how the achievement system works, and more.

Nintendo says that there is a day-one online patch that will reveal more about the console's online plans which we should receive soon, so we hope to know more then.

*Transferable Data: Wii software save data, WiiWare and save data, Virtual Console titles and save data, add-on content, Wii Points (not in excess of 10,000 points), Wii Shop Channel account activity, and Mii characters