EverNightX: I think that's a terrible idea doomed to failure. Hardware has a lifespan. Emulation is far more realistic.
Well, if emulation works for you, then there is no reason to mourn over "people's destroyed software libraries", right?
I am quite happy with emulations actually - most of the time. But it's just not the same. Until today there is no working Soundblaster AWE emulation, also no emulation looks like I got back in the days with my Voodoo or my Amiga. Of course back then I had analog RGB monitors. There is no way of emulating these correctly.
And sure, some games look and sound better now (emulated or not) than they ever did did on their original platform. That's a big advantage of the PC towards all other systems.
But I can perfectly understand why retro fanatics have a load of different systems in their basement. I was thinking of getting a Amiga 2000 myself. My original one was busted back in the days, and I sent it to repair just when Commodore went bankrupt. A year later it returned - unrepaired. After years of keeping the parts in the basement I threw away the whole thing including all the games - a big mistake which I still regret. What keeps me from buying one is that I would have to start from scratch, get the converters to attach it to a modern screen, pay overprice for some Competition Pro Star Joysticks. FS-UAE proved to be a good replacement, but it's just not the same.