I've found that the Wii Fit is great for Yoga and stretching exercises, but to be honest, I find it a little lacking as far as good aerobic exercise that gets your heart rate pumping. This is not to say there aren't great aerobic games on it--the boxing is great and so is the hula hoop. Also, the running game is not bad for a rainy day when you can't get outside (you basically jog in place, but on the Wii you're running through a cartoon world with a lot of interesting scenery).
Overall, I'd say it's worth it, but don't expect the end-all-be-all.
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