I just got my DS and am really enjoying it. Super Mario 64 plays great with the graphics on par with the n64 and maybe a little bit better. Musically, it's just how you remember it only clearer, with the sound samples only sightly less quality. I haven't found the so called "control issues" with this game and throughly recommend it.
The DS itself is maybe a little to big, but its not as bad as everyone makes it out to be. I have yet to try out the multiplayer.
But in the long run we're probably better off with a dpad - it's sturdy, it's not likely to become defective or misaligned, and it's certainly accurate for 2D games. So I'll give the DS second place behind the GP32.