The first in the popular fighting series, Fatal Fury.
NK has issued a press release to inform us that Neo Geo games will indeed appear on the American VC. They have also revealed 3 of the titles to appear, and all of them are fighters! They are Art of Fighting, Fatal Fury and World Heroes (Yes, unfortunately, no Magician Lord quite yet). Note that these have only been mentioned as "key titles", so there might be others on their way soon as well. The full press release below:

"SNK to Release Classic NEOGEO Arcade Games on Wii Virtual Console

Wall, NJ - September 12, 2007 - SNK PLAYMORE USA CORPORATION, the U.S. publishing arm of the SNK PLAYMORE CORPORATION, today announced that the Company will release several of their greatest NEOGEO arcade games via the Virtual Console feature on Wii. Wii owners with a high-speed Internet connection can redeem Wii Points to download these classic games through the Wii Shop Channel. D4Enterprise, Inc., headquartered in Tokyo, will manage the release of the titles.

Key NEOGEO titles will include "Fatal Fury," "World Heroes," and "Art of Fighting." Each title is expected to cost 900 Wii Points. More titles will follow over the coming months.

Headquartered in Osaka, Japan, SNK PLAYMORE CORPORATION (SNK) develops, publishes and distributes interactive entertainment software in Japan, North America, Europe and Asia. Founded in 1978, SNK is one of the largest privately held interactive entertainment content providers in the world. Known for such franchises as THE KING OF FIGHTERS, METAL SLUG, and SAMURAI SHODOWN SNK continues to be an industry leader by focusing on their rich arcade history. More information on SNK PLAYMORE CORPORATION can be found at SNK PLAYMORE USA is a wholly owned subsidiary of SNK PLAYMORE CORPORATION with offices in Wall, NJ. It handles operations in North America including publishing, marketing, development and localization. More information on SNK PLAYMORE USA can be found at"

UPDATE: The OFLC has now rated Fatal Fury, meaning Europe/Australia will get Neo Geo games too!