Apparently 17 3-minute matches is equivalent to 32 1-minute matches. And yeah, where I was standing is that I'm already close enough to the Replay capacity on Wii-U that I just had to test this out.
At least it's safe to say that replay capacity on the Wii-U version isn't determined by replay count.
Super Smash Bros. for Wii U Statistics For Master Knight DH
At this time, Master Knight DH has 53,041 views for Super Smash Bros. for Wii U spread across 189 videos. Roughly a days worth of Super Smash Bros. for Wii U videos were uploaded to his channel, roughly 3.40% of the content that Master Knight DH has uploaded to YouTube.