Or for free you can root your android device, link a PS3 controller, and play all the emulators your want via micro-HDMI to your TV. Yes it's free and it works perfectly. You can also pay a few bucks for more flashy emulators if you want. I applaud them for trying to do something like this, but it's not like you are playing NES games, you are playing "iCade" games.
I also have my new Nexus 7 linked up like this (minues the HDMI, but the screen is big enough), it even plays PS1 games perfectly.
"...one with two controllers and an HDMI cable for $125"
Why would I want an old console when I don't even have enough time to play all of today's greatest games...
I need to finish God of War 3, the newest Zelda, the newest Metroid, and serveral other really good games I don't have time for.