snes is dead and buried, no more for ever.... so let's speculate:
N64 classic will have
ocarina of time **
majora's mask **
mario golf (licensing?)
mario tennis (licensing?)
maybe not due to licensing from rare?:
donkey kong 64
banjo 1 ,2
conker !!!! (probably not)
jet force gemini
So although I wasn't too excited for one, now looking at these games makes me think this will be super popular if made. If they could get some of the off-beat games like space station silicon valley and others as fillers, it would be even better. They could just put the 2 zeldas and paint it gold and sell out like crazy. If they include multiple controllers or make them easier to find separately, they could also add mario party, super smash bros, and it would become the party system of the season. My guess will be 10-15 games and 2-4 controllers for $100.
Nintendo retained the rights to N64. Rare owns Conker, Banjo 1&2, Perfect Dark, Jet Force Gemini, and are on their Rare Replay compilation, so it's not something I'd ever expect to see on a Nintendo based product... UNLESS Nintendo were to trade Goldeneye 007 to Microsoft to release their HD Remaster in exchange for the ability to release the Rare N64 games on their Virtual Console, but I think that ship has sailed when Nintendo have them a big DK thumb's down to the offer.
It's sad too, because some of the very best N64 games never make it to Virtual Console, and will surely be missed on an N64 Classic Edition system as well. I think even releasing a syst e like that will just draw more attention to what Nintendo doesn't own!
So no Goldeneye 007, Conker Bad Fur Day, Jet Force Gemini, Blast Corps, Diddy Kong Racing, Banjon Kazooie, Banjo Tooie, Perfect Dark, and Killer Instinct Gold!
I Also don't think we'll see the Star Wars games such as Shadows of the Empire, Rogue Squadron, star Wars Episode I Racer, Battle for Naboo due to pricy 20th Century Fox licensing.
I would however try to add Doom 64, Tetrisphere, Sin & Punishment, Beetle Adventure Racing, Turok to the list.