Looked underwhelming to me (Zelda). Does it matter how far back you pull on the bow? The guy didn't look like he had to adjust the amount of power.
The Red Steel demo didn't show the player moving around as nearly as smooth and accurate as a mouse. I play Counter-Strike and Day of Defeat every single day (and have been playing CS since the alpha days), and I know what accurate and smooth motion looks like. Something seemed too jerky, the targeting cursor jumps and wiggles around, like there is some positioning uncertainity, or the guys arm is just jitterly. Either way, it didn't convince me that Wii can make FPS's work like a mouse does on the PC in terms of accuracy.
The tennis was promising. The highlight of the show.