More or less, yeah
...Unless you get the DS version, in which case, all 4 people share one house...
I'm not sure how much space City Folk takes up on the Wii Memory (And I don't think you can move the save to an SD Card...)
About WiiSpeak...I have it, but because of where my Wii is and when I was usually on it (late night, the only time that that TV's ever free...), I never got to use it...
As for some tips, hit rocks with your shovel, if money comes out, keep bashing the rock in until it stops dropping cash. Buy a second Shovel and Bury it for 24 hours.
And finally, to get DLC, set WiiConnect24 to ON (Both on your console and in your game), and (more or less) go on regularly during the set period for each item. At the end of each month, the Nintendo Channel Has a 'What's new in Animal Crossing' video, recapping the month that just ended, and telling you what's in store for the next month...And if you don't feel like checking that every so often, you can just go here:
http://accf.wikispaces.com/Downloadable+Content
And, if you missed your chance to get one, you could always go to someone's Town who got it, and have them give it to you (Especially since you can re-buy it from your Catalog)