BreakmanX.com

Pretty awesome if your bored

http://www.vnes.thatsanderskid.com/

That is a pretty well written emulator.

It is going to be interesting to see what Nintendo does with emulation. I think that offering a better service is better than suing everyone. The ability to play something on your TV with a comfortable remote is almost always better than playing an emulator. (Ignoring the fact that the Wii itself is an emulator