You don't see a lot of SM64DS hacks get talked about nearly as much as you do the N64 version of the game. It's honestly a shame, because the DS version does open up some pretty cool things, namely the addition of an entire touch screen.
True. Everyone in the SM64DS hacking scene totally wuvs MOM (More Objects Mod)'s Launch Stars (I don't hate them, though), but I'd find Pull Stars cool if they were to ever get implemented in SM64DS. You could trigger them with the touchscreen.
I feel like, if the game were to ever get vigorously ripped apart in the ways that the N64 version of the game has been, it could allow for a lot of cool possibilities. Though, I have little to no faith in ever getting enough interest for anything like that ever happening, given the native PC port of SM64 that makes it easy to replicate all the features the DS version of the game has to offer.
A SM64DS decomp might just become a thing. There are people out there who know a lot about SM64DS's code, like HayashiSTL, who even gets jokingly compared to pannenkoek2012 sometimes. She's currently busy working on SM256 and her own game, though.
But yeah, the PC port, there's a mod (I forgot the name. SM64 Remix? Super Remix?) that added a lot of SM64DS features and Waluigi and the Rainbow Star.
I do see a lot of appeal in the concept of running the game on a DS natively, though. Though, I'm also not entirely sure how THAT works. I'm not too smart on DS stuff.
I don't fully understand you here. Do you mean having the OG SM64 run natively on DS? SM64 is only ~8 MB, and the largest DS ROMs I've seen, are 256 MB, so it could probably be ported, but given the SM64DS models are actually lower-poly than the N64 version's, I don't know if such a homebrew port of SM64 would run without graphical glitches (polygons not rendering). And could texture filtering like on N64 be emulated on DS?