I agree that I don't think enough N64 games have been launched on the VC. I also regret selling off my N64 console and all my cartridges on Ebay back in December of 2006.
I honestly believe Nintendo is costing themselves money in the long run by not making more of these games available and frankly the money they would make back on launching some of these games would probably more than cover licensing fees to other companies like Microca$h. I really don't know anything about that nor do I care.
My outlook on this, the Wii will be out of style and outdated in 2-3 years tops. Why not milk that cash cow now, especially in light of the money they have lost the last 6 months leading up to this past Christmas shopping season. All the money they could have made had they been able to produce more hardware and they keep launching crap TGFX16 and NEOGEO titles.