To be fair, I know this looks
like a direct copy of strikingly similar to N64oid. However, N64oid isn't on the Android Market and Real64 is, so that's why I'm taking a look at it.
As far as emulators go, Real64 works fine. Most games seem to run, although the level of problems with any particular ROM seems to vary. In my experience (and as evidenced in the video), Pokemon Stadium starts with some totally distorted graphics, but plays fine. Pokemon Stadium 2 loads fine but freezes before you can get into a match. The Legend of Zelda and Super Smash Bros. ran fairly flawlessly, so it's hard to say.
There's a fairly full settings menu, with options to adjust the kind of digital control scheme you're using (d-pad or joystick) as well as map out custom settings. I didn't have any Wii controllers on hand to test out if that works via Bluetooth, but I'm led to believe it does.
If you're looking to play N64 games on your Android device, Real64 seems to get the job (mostly) done. It's far from perfect but the fact it runs N64 games is something. As for its seeming relation to N64oid, I can't speak to that. At any rate, Real64 runs $4.99 in the Android Market.
Update: And it looks like it didn't take long for Real64 to get pulled, either. If you're still looking for an N64 emulator, there'll be links for N64oid after the break.