There's possibly no game in the world that requires more perfect timing than PunchOut!! so this should really put the Wii emulator to the test.
I'd have to disagree. I believe the Street Fighter series (including CVS2,MVC2,SFA3, etc) requires much more precision than any game I've ever played. I never thought the timing in PunchOut! was very tight. This was referring to Mike Tyson's PunchOut, btw.
You couldn't be more wrong on that one. SF is a slow slug compared to punchout. Sf is actually designed to purposefully have some "give" when it comes to timing moves. I can quickly press down,down-forward,forward punch , tap each direction in quickly or do them in a rather slow, fluid, motion and still get a fireball every time. With that being said, if my motion drifts from those three directions at all, the move won't complete. Don't confuse moves being difficult to pull off with moves requiring precise timing.

Punchout, on the otherhand, is almost up there with twitch games like Dragon's Lair, when it comes to timing moves. There's no margin for error on the later characters.
p.s. Mr. Dream IS mike tyson, they literally just painted the sprites to make him a white guy. Personally, I think they should have released the mike tyson version and updated it to reflect the new crazy tattoo and insaine ear-biting action!