But with an emulator, you can play at 1080p, even more than that now xD. Plus, a decent PC does far more than a wii, and if the ISOs are stored on your HDD, they can't get scratched . (not to mention high res texture packs, and widescreen hacks)
Indeed, it's still under development. But much progress has been made in the latest dolphin builds. Be sure to check out the monthly dev blogs, many improvements have been made. But ya, I understand your point.