Yeah, the did go fast. The controller is wireless to the nintendo and relies on the old proven light technology with a sensor bar used to detect the light from the controller. In say the starting menus you move the hand around with the Wii Remote(wiimote for giggles) and use the buttons on the remote to execute actions in the menu.
What I found nice was the backwards compatibility. You can download old nes, snes, n64, and sega games and play them on the system. You can even use gamecube games and gamecube controllers and memory cards!
The wiimote(hehe) has gestures you can use in video games to accomplish different moves and what not. Some games will give you training on how to use the moves such as the new Legend of Zelda: The Twilight Princess. The controller made me actually move around rather than just sitting there mashing buttons, you actually make hand movements to execute swings and aim your shots with ranged weapons.
I have yet to try Red Steel but I might have some time over the holiday to try it out