Nintendo have stated that all first party games will be region free. Region locks are available however for any third party developers who wish to use them.Anyways, this console will be on my, "to get" list when I (hopefully) go to Hong Kong next year. I really, really hope the region free aspect is true or maybe someone is willing to hack it to do that.
The 360 works on the same basis - developers can choose to put region locks on. Some do and some don't =\. Developers would probably have more of a reason to implement a region lock on the 360 as game prices vary a lot more between regions and some developers probably won't want people saving $20 buying the asian version. So in short yes I can imagine region locks on third party Wii games, but it shouldn't be as bad as with the 360. I hope xD.
I've put a preorder in for the Japanese version with play-asia and as soon as the US version is up for pre-order I'll switch to that. I figure any region locked third party games I want I can import from the US, or datel will probably come up with a new Freeloader or something like they always do. =D