I like the choice of digital rewards too. I didn't want most of the physical rewards and I grew up with many of the games on the VC service, and I'm generally against double-dipping. But offering VC games for coins was great for me.
I got Super Mario Bros 3, Super Mario 64, Kirby's Dream Land, Kirby Super Star, and F-Zero X for free. That's about $40 worth of VC!
Now to wait to see what my 980 coins gets me... SMB2 will probably not cut it, I think i'd rather have the new Punch-Out! out next week over Super Punch-Out!, I have Super Metroid and Wario Land II, and the original Legend of Zelda would be a good end choice, but I bet there will be better choices next month.
I just wish the monthly list was more diverse, but I can't complain about free games.