IMO putting savestates in their VC games was a really stupid move on Nintendo's part. Not only will this take the challenge out of SMK, it'll take the challenge out of
every game released to the Wii U VC. You'll be able to finish even the hardest games just by save-scumming your way through them. Like, say, restart a stage from right before the boss, when you were originally supposed to restart the entire stage when you died (not to mention losing your supply of extra lives!). That just isn't how these games were meant to be played.

We'll have to specify in the Joining Info section of the SMK Player's Page that the Wii VC version
is allowed, but the Wii U version
isn't. There may already be players trying to join this week with Wii U times, we need to let them know as soon as possible before they waste all their time playing on Wii U for times they can't legitimately submit.
In the event that an original Wii VC game can be transferred to a Wii U, and mid-race saving can then be done, we'll simply have to make the rule say that this game cannot be played on a Wii U.
Worst comes to worst, I guess PAL players can just use the Wii U version of SMK to practice NTSC (for when they're finally able to procure an NTSC copy of the game), just like I used the ZSNES to practice PAL