Well I dumped my NAND and decrypted it using my nand-key.bin. Once decrypted I put the the contents of my NAND in the famous Nintendo Gamecube and Wii emulator Dolphin. Then I extracted the system menu 289 from an update, then i opened the systemmenu_v289.wad in the emulator and BAM! Wii system menu emulation. Once i get another Wii I will dump and decrypt its NAND and share it with you all that don't feel like doing all this. I'm sure a few people have done this but I just thought I would share. The NAND dump is 512 MB. Once I come back with my NAND I'm gonna share I will make a step by step tutorial on how to set it up. You must have a decently fast PC. I have an AMD Athlon X2 2.0GHz processor, 4GB RAM, nVidia 8200M (Modded Drivers), and Windows Vista Ultimate x64. Since my GPU Bottlenecks my hardware I get around 34-45 fps on mario kart wii and 50-60 fps in the system menu.
Video Proof - Mot My Video