I wonder if they will have the Konami code for Contra?  Viva la Contra!!!!
It will. Peter Moore specifically said it would at the press conference. It also looks like it's ported from the arcade and not from the NES.
And games like Time Pilot looked like they were graphically superior to the arcade originals.
The full list of games they anounced were:
Time Pilot
Frogger
Rootbeer Tapper
Rally X
Dig-Dug
Galaga
Ms. Pac-Man
Pac-Man
Street Fighter II Hyper Fighting
Contra
Super Contra
Track & Field
Scramble
Ultimate Mortal Kombat 3
Sonic the Hedgehog
Defender
Paperboy
And the most exciting:
Lumines Live!Each game will have a full list of achievements, leaderboards, and co-op / competitive play where appropriate. Pretty cool stuff!!
Speaking of which, it may be time to add an XBox Live section to the collection database.