timppu: Not to mention PCs running ePSXe.
Filben: But emulating sucks if you aim for 100% correct rendering. I prefer to play on the console on which the game was meant to be played. I tried a lot emulators and a lot games but that nostalgic feeling goes out the window, not mention possible glitches and other errors which cannot be eliminated entirely and have to be expected.
Then we have quite different experiences apparently. With most of the emulators I've used, most of the time I honestly can't tell a difference compared to the real hardware, at least for worse.
Ok in some cases I don't have the original hardware anymore to make a side-by-side check, like my first computer TI-99/4A, but when I play Munchman, TI Invaders or Parsec on the Win994a Simulator, it feels exactly the same I recall playing those games as a kid. If there are some glitches, apparently they are so minor that they don't affect the overall experience.
This also includes lots of arcade games emulated through MAME, the games I've tried playing through ePSXe etc. If there are any differences, they are usually for the better, like the ability to enhance the graphics in ePSXe, or the ability to save anywhere. Having played Silent Hill both on my real PS2 and ePSXe, so far I don't really see any reason not to do it on the latter.
Not to mention DOSBox of course. If emulation was so bad you suggest, I guess GOG users would be constantly complaining about the DOSBox games in GOG. I still have the option to play DOS games on a real Pentium 133 machine, but I hardly ever see the need to do that anymore. In fact, I have a better success rate running lots of problematic games through DOSBox, than trying to optimize that old Pentium machine to run them. There are several old DOS games I've been unable to get to run on that retro PC, but which run fine in DOSBox. Go figure.
It also delights me how well Munt nowadays emulates Roland MT-32/CM-32L. A year or two ago it sucked badly as there were so many inaccuracies and glitches in the sound output, but suddenly they released version that for me makes owning the real CM-32L pretty much useless. In fact, in some cases the Munt seems even superior to my real CM-32L, because I have an early version of CM-32L with a glitch that can cause scratchy sounds on some MT-32 games (I think it is the volume clipping issue in early CM-32L units, most notably in the Wing Commander intro's fireworks, but even worse in Inferno's title music). Munt (with CM-32L ROMs) plays them fine and clean without such glitches (at least the Inferno music, haven't tested the WC intro yet).
And the problem with the old hardware is that it will die, sooner or later. And naturally having a dozen emulators installed on your PC is also much simpler than having dozen old hardware units hanging around.