Also, JenX has clearly never heard of Virtual Console, or Xbox Live Arcade, to name the legal options.
No I haven't because as I never bother with consoles.
Also I am still baffled why people on the internet keep insisting on writing my name with a capital "X" on the end.
P.S.: Ok so I did a quick wikipedia search and I am now confused about your post. From what I get Virtual Console doesn't allow you to, say, play a PS 2 game on your Wii, and neither oes XBox Live Arcade, so how exactly do any of them compare to having an emulator on a PC and being able to play PS 1, PS 2, Xbox, NES, SNES and Nintendo 64 games all on the same machine?
There are several programs that will launch many of those emulators and more. They might not be straight up legal, though, seeing as you happily included PS2 and XBOX emulators, I'm betting you don't concern yourself too thouroughly with all that. There are emulators for all three systems, if you're really looking.
On the original point, though, with nintendo turning back to its core gamer base in the next few months, and MS and Sony trying to imitate the regretfully dismal motion sensing tech, the next few years, if things keep going this way, are going to show us a bit a reverse-around. We'll see fewer core-based games for the heavier platforms, and a few more games that return to roots for the Wii.
Though I wouldn't mind seeing an actual controller for the wii. The classic controller is all well and good, but having it as an attachment is a bit of a nuisance. An actual controller would go miles to promoting the wii as a gaming platfofrm again.