While I've never seen Fable 2, I've played Fable 1 to the end.
Even though I enjoyed the game, I'd not go so far to say it was a monument to originality in game design history. It was just a nice blend of already known, well-established features.
So yeah, I'm sure we'll be seeing games like Fable series on Wii, no problems there. But whether they will have original features or not remains to be seen.