Owning something like 5 copies of A Link to the Past, I agree with this sentiment (the format-shift argument), but I don't think it's proper justification for distributing them. As much as I'd argue it's fair for those who have paid, we can't ignore the fact that most people haven't.

You'll have to ask a copyright lawyer about that one. Every single one of those games had a notice somewhere in them saying not to copy them though.