Gamecube Controller Button Remapper

Hi, I'm really new to Arduino, in fact I haven't even touched one before, but I have a programming background and have worked with circuit boards before (mainly arcade sticks and game pads).

I was wondering if it is possible to make and Arduino accept inputs from the gamecube controller, and output different inputs to the gamecube based on a preset mapping of the buttons?

So in somewhat simpler terms:

Controller Input ---> Arduino (Swaps Input with Remapped Input) ---> Gamecube

Lastly is it possible to do this without add a ton of latency?

Thanks in advance.

Anyone able to weigh in on this?

If anything I just want to know if its possible.