Fwiw, if you buy a Wii for $50 at GameStop, you can connect to the internet over wifi and buy many NES, SNES, GameCube, and N64 games for it and play them natively on the Wii. Here are some games we downloaded for our kids and all play together:
Super Metroid
Super Mario 1
Super Mario 2
Super Mario 3
Super Mario RPG
Super Mario World
Legend of Zelda: A Link to the Past
Legend of Zelda: Ocarina of Time
Sonic 3
Kirby's Dreamland 3