I've thought about something else lately... If the Nintendo Wii would allow users to upload their own games into a special channel you could put GTP up. It would be a great upportunity to show your skills. Nintendo wants to attract people to develop games for their platforms so they are going to do all sorts of stuff like this in the future.
The problem with the N64 isn't the number of polygons - it renders lots of polygons fine. Most early commerical games had few polygons because the 3d software the modelers had was harder to use than it is now. (and because early RCP microcodes were too accurate and slow)
The main limiting factor in N64 games is fill rate and texture memory, because the RDRAM latency is so high. If you can write games without using a Z-buffer, you'll speed things up greatly (and save memory). You can also turn of writes to the Z-buffer multiple times while rendering a single frame, for objects that don't need it (like a skysphere) as long as you send their displaylists first to the RCP.
Hopefully there willl be a stat system, you will eventually have to relieve yourself in the bathroom, and replenish anoter stat with your beverage of choice. Who said portable-building was easy...