That should be sufficient for most games, yes. Probably not the most demanding ones, though, due to the CPU being at a low-ish clockspeed
Depending on how many games you have, you'll probably want to look into adding an 1 or 2 TB hard drive or something, as GC games are like 4GB per game, and Wii can be up to 11GB
As for the kids, yeah, you can make them a profile that auto-opens Dolphin or some other frontend (like steam big picture) so all they have to do is select their game and go.
Depending on how many games you have, you'll probably want to look into adding an 1 or 2 TB hard drive or something, as GC games are like 4GB per game, and Wii can be up to 11GB
As for the kids, yeah, you can make them a profile that auto-opens Dolphin or some other frontend (like steam big picture) so all they have to do is select their game and go.

