This game is pretty good but it's completely overrated because it doesn't hold a candle to the SNES game, Super Punch-Out. Punch-Out for the Wii is basically a remake for the original NES game, Mike Tyson's Punch-Out in which they obviously discarded Tyson's name after his image became bad. The boxers telegraph their punches and you either counter them outright or if you need more time to react, dodge them and counterattack. This was a great game on the NES because it was the first of its kind but it feels aged now because of how it lacks the rapid punches and power mode in which your fists change color and you punch faster from Super Punch-Out. I can compare this game to Victorious Boxers: Revolution because that game had more depth than Punch-Out in story and boxing techniques although it also had bad load times, camera/control issues, and problematic character balance. Victorious Boxers: Revolution had more intensity because you were focused on moving around the ring and instantaneously attacking and dodging while seeing when you might want to back off or get into the fight rather than rather than stay in 1 spot and learn the signals your opponent has for a certain punch and how to avoid that punch. The only punches you have in Punch-Out for the Wii are jabs and your uppercut you are rewarded with once you perform a proper counterpunch; there is not much depth to this game.
There is also a versus mode in which you can dominate your opponent and make your boxer, Little Mac, become a giant. However, it would have been a better idea to let you play as different boxers.
Fortunately, the game controls well and the game still remains challenging due to how tricky your opponent's punches can be to avoid and has good technical features such as damage to the boxers although I would have preferred subtitles for when the opponent's say something to you because you are given subtitles for when your trainer, Doc Louis talks; the French boxer, Glass Joe, speaks in French and subtitles could have helped.
On a positive note, it brings back nostalgia in a well-polished form. You'll have that classic music, familiar character with better models and good animation. I just wish Mario was the referee like in the original Punch-Out, or if they got some other Nintendo character to be the referee.