Using an N64 controller

I'm interested in using an N64 controller with an arduino (just be able to have the arduino read the controller's status of buttons, joystick, etc). I found these two pages that offer pretty good information about the data that the controller sends:

(I will post these in a second post on this thread because apparently I can't post links until I have posted a normal message)

I'm very new at all this and don't know anything about dealing with protocols, reading serial data, etc so I was wondering if any of you could point me in the right direction in order to learn what I need to do to get this N64 controller up and running.

The sites also make mention of the speed of the controller and how one would need to write in assembly in order to be able to read it quickly enough. Is this the case? Would I need another microcontroller to act between the arduino and the N64 controller?

A little help would be greatly appreciated!

Here are the links, sorry about this awkward way of posting: