Didn't Nintendo say it was 1? If it's 2, with that extra frame of delay for VC titles that would give Wii U VC titles a grand total of 3 frames....what a joke. It would be 3 frames total with the S60 as well. Not interested in VC off-play, i'll stick to playing VC titles on my Wii hooked up to my lag free 27" sony CRT which gives me only 1 frame delay. even then, i've done comparisons between the actual carts on my NES on the same TV vs the wii emulations, and the original games on the NES still perform a bit quicker, on the dime and feel a little lighter overall. You just can't beat the real thing.
Also, even 3DS VC games feel a little laggy, i've done quite a few comparisons and the difference is there between the emulations and real thing.Wario Land and Kirby's Dreamland felt quicker and bouncier on both my GB, GBC & GBA.