Pro Logic II is indeed simulated 5.1 channel (5.1 channel by matrix encoding in Stereo output), and original Wii DO encodes game into Pro Logic II, just like Gamecube. Don't believe me? Go to Dolby website to check it out.
Although I do not own a Wii U, I do have some hands on experience with them. The reason I say it is overpriced at the moment is because little stands out about Wii U against PS3 or Xbox 360.
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