Yes, you can get sorrund sound from a wii.
You need a dolby pro logic II capable decoder to do it.
While the signal it encoded to be carried over a 2 channel link,
it is decoded to 5.1 sound (for backward compability,
eg you could use it to make 5.1 audio cd without replacing the players).
It is probably not what you mean by "full" sorround since LS,RS and C.
are limited in thier expression but it certainly is surround.
I don't see what would be fake on using 2 stereo connectors to transport (e.g. 4.0) sorround sound.
Using 1 stereo jack per 2 channels is actually the common way to connect speakers,
if the space is to thight for one mono connector per channel.
Even my 7.1 system uses it (4x 3.5mm stereo jack).