Played both versions of the game and I think that *absolutely* the Gamecube version is the superior game.
The Wii controls really do nothing other than break the immersion. I don't want to have to think about how I'm controlling a game, I don't want to be reminded that I *am* controlling a game, I just want it to work.
One thing that I would say though, it didn't do much to capture the fear of the first game, the enemy designs in particular never looked like anything other than pulled right out of a game for 5-year-olds, ballooned and clumsy and childish, never threatening, and never had anything like the Shadow Temple opponents or the Dead Hand and certainly never came close to the tragic haunting magic of Majora's Mask.
Aside from that, this game really was spectacular and did everything it could do recapture the magic of the original 3D game. The result is really breathtaking and will stay with you for a long time after you finish.
Really what I'm saying is, you'll yearn to play this game again for nostalgic reasons the same as you did with The Legend of Zelda: Ocarina of Time.