Just wanted to throw this out there: we had the VSmile and the kids never got into it...the graphics were flat/repetitive and so were the games! We tried leapsters (hand held units) and they loved them. The games were so much more entertaining and fun...and educational in such a way that the kids never felt "taught", whereas the VSmile games really drill a concept, via being repetitive.
The VMotion looks fun, but depending on how much of a price difference investing in the system plus games, I would consider getting a WII so the initial investment would be a one time thing w/ great game choices for now through teen years and beyond...plus the whole family could get involved.
Again, I'm not sure how much $$ difference there is, but I would be (and have been!) frustrated when these game systems are not played with because of the games (graphics, engaging, etc) and then outgrown.