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JudasIscariot: One machine to rule them all, one machine to find them, one machine to bring them all, and in the darkness bind them.

This summer...
Heads will roll...
An empire will rise...
And the PC...will...
*dum dum* *boom* *explosions* *kids running about*
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KingofGnG: Bof, what a waste of time.... they could simply give the money to developers of the mighty Dosbox, ZSNES, ScummVM, Gens, MESS, MAME, Model 2 Emulator and so on and they could have the job done just now. Or just engage them into the matter.
This is a short-sighted approach to something that has already had the time to develop and flourish within on-line communities.
A waste of time, and a waste of money, imho.

Agreed. The one useful thing they could do is port other emulators to the MESS/MAME architecture to create a single backend that would only have to be ported once for every new platform.
With regards to the legality of emulators, ROMs, and websites distributing them, I know of a site that claims to have been around since 2001. Their business model appears to be a type of renting of the ROMs, requiring a constant internet connection to play. They claim to have gotten a letter from NOA, Inc. (NIntendo of America). They also claim to have replied to that letter stating their legality, and have not been shutdown yet. Perhaps their legality is debatable, but an interesting business model.