So here's my stats, so far:
395 Codes Entered.
I've lost 8 times for bundles. (Once by mistakes, the others, I thought "What the heck?")
I have 63 winning entries left to redeem.
I've won DLC a total (including the 63 non-redeemed entries) of 322 times, lost 65 times.
Total redeemed Wii Points: 51,800
Total waiting to be redeemed: 12,600
Total losses: 73
Win:Loss Ratio: 322:73 - 81.5%.
Assuming a price of 50 cents/cap (which is waaaaay high considering how many I was given for free from coworkers and a few lots from eBay for 30 cents or less), I've spent $197.50 on caps. For a total of $518 (or $644) worth of Wii points. Or about 62%(/70%) off.
If we drop down to 30 cents/cap, I spent $118.50 - or 77%(/81%) off.
If I had won every single entry, I would have gotten $790 worth of Wii Points. At 50/30 cents per cap, that would have been 75%/85% off.
Add in the Club Nintendo points I've gotten (yay!) and all the Pepsi I've drank (errr... yay?) and I think I've gotten a good deal.