Maybe Nintendo should've gone with a 65nm Core Solo? Or some semi-custom 90 nm Dothan (i.e. a Celeron M but w/ speedstep enabled)? Either would surely destroy that special little 750CL, especially in performance per clock, if not power. But, it wouldn't have the backwards-compatibility-of-questionable-worth.
And of course, it wouldn't be as near-free as I bet 750CL most likely is. And that's what matters to Nintendo.
Dothan (at 90nm) was 84mm2 (five times the die size at the same process node) and had a TDP of 21W at 2GHz (a pure mobile product). Five times the size and five times the power dissipation at the same process node as the 750CL. Compared to the P-III in the benchmarks previously linked, the Dothan enjoys a better memory subsystem, but then again so does the Wii CPU compared to the 750s in the same link.
So you feel five times the die size, five times the power draw and lost backwards compatibility and the associated costs and delays in new tools would be a good trade for somewhat better integer performance? Insanity.
While it would have been very interesting to see what Nintendo could have achieved if they had kept the same cost and power envelope but had done a clean sheet design, adopting an x86 CPU would make no sense whatsoever. In spite of all the development dollars sunk into them, they suck, pure and simple, in low power applications. To achieve decent performance they carry a large die size overhead (cost) and they lack the custom functionality that might be useful in a gaming console.