Yes, i've got 28 channels on my wii now... It's a major pain in the ass to organise but I just manually organise the games then have the channels that I don't use that much after them.
(if you didn't know you can 'grab' channels by pressing both A + B together and you can then move the channels around.)
The only thing that worries me is the amount of slots I have to store channels on. It's getting awefully cramped now. I have had it since launch day, but still.. thats only like 18 months ago...