You read right, original Wii games will be playable on the GamePad!
Wii U System Update Enables Wii Games to Display on GamePad
Edit: after having read the article, it appears the update is already available. Interestingly enough some people have stated that the black bar on the GamePad's camera is a sensor bar (I never knew). So the only question I have is, does this update effect softmods in the vWii? I can't wait to try Devolution GameCube games on the GamePad!!