I got ideal controls setup for mouse/keyboard. Pure luck is downed to zero - only pure controls. Successfully completed the game with no troubles (on Dolphin 5.0 stable). Here is the ini-profile and screenshot (for those who want just look at my setup).
How to apply ini-profile: unpack attached zip-archive to ...\Users\<your username>\Documents\Dolphin Emulator\Config\Profiles\Wiimote\ and then go to controls settings, select NMH1 profile and press "Load".
Controls explanation:
Rotate camera right and left = just use mouse as in any other game
Katana charging / win counterattack duel = hold MiddleMouseButton
Win any wiimote/wiimote+nunchak swing: hold Alt + hold W + mouse forward (mouse forward will guarantee that you win any swing in any direction, not only in up-direction)
Motorcycle jump = hold LeftMouseButton + hold W + mouse forward
Get out of motorcycle bike = numpad 2
Move camera up/down = numpad 8 / numpad 2
Win Ryu training exercises: hold Alt + hold W + do mouse forward and backward many times
Switch katana to high stance = hold Shift
Evade left/right = hold Space + press E or Q
Stand up = button mess
"Box show" at rank 4 boss fight: when you are inside the box just slowdown emulation speed to 40% and hold MiddleMouseButon (additionally you can use quick save savestate if you don't want to fight boss again and again); but if that won't help try to hold MiddleMouseButton and do many "hold Alt + hold W + mouse forward" during that time. If you success -> boss fight will continue and if you fight good then you will kill boss before second "box show" appears.
How to apply ini-profile: unpack attached zip-archive to ...\Users\<your username>\Documents\Dolphin Emulator\Config\Profiles\Wiimote\ and then go to controls settings, select NMH1 profile and press "Load".
Controls explanation:
Rotate camera right and left = just use mouse as in any other game
Katana charging / win counterattack duel = hold MiddleMouseButton
Win any wiimote/wiimote+nunchak swing: hold Alt + hold W + mouse forward (mouse forward will guarantee that you win any swing in any direction, not only in up-direction)
Motorcycle jump = hold LeftMouseButton + hold W + mouse forward
Get out of motorcycle bike = numpad 2
Move camera up/down = numpad 8 / numpad 2
Win Ryu training exercises: hold Alt + hold W + do mouse forward and backward many times
Switch katana to high stance = hold Shift
Evade left/right = hold Space + press E or Q
Stand up = button mess
"Box show" at rank 4 boss fight: when you are inside the box just slowdown emulation speed to 40% and hold MiddleMouseButon (additionally you can use quick save savestate if you don't want to fight boss again and again); but if that won't help try to hold MiddleMouseButton and do many "hold Alt + hold W + mouse forward" during that time. If you success -> boss fight will continue and if you fight good then you will kill boss before second "box show" appears.