All the games machines I have seen details of feature a
microprocessor of some sort. They are computers. FSF say boot ROMs
are OK because they are not modifiable and sold with the hardware.
That seems to put paid to images of them being used by an emulator on
both counts.
But one door closing often simply means you should open a new one.
So what *new* hobby or pastime could you take up as a replacement?
If you want games then you could learn Chess or Go which have
fascinated entire nations for centuries between them. Get the basics
with a book and the free software computer opponents. Then the
Internet and local clubs are your oyster.
Or if you like RPGs, then IMO pen and paper RPGs are vastly superior.
Again you should be able to find a local club. JAGS2 from here
http://www.jagsrpg.org/ is a basic system that is under the GNU FDL.
OTOH GIMP and the camera in your phone are much more powerful and
flexible than the well known 'Box Brownie' nearly all the famous
photographers of my youth started with. In those days they would
still as projects do a shoot with one, just to show how great
photography doesn't need expensive equipment.
There's always reading these two books http://inventwithpython.com/
and writing your own computer games. Trust me it's quite easy and a
lot more fun than playing them. :-)
Or circuit bending as a prequel to learning about electronics.
I'm sure you can think of something if you're open to new things.