I agree with just about every point you made apart from this one.
"Can I play older console games with much better visual quality and even performance than the originals, including 6th generation PS2, Dreamcast, Wii, and GC games?"
I don't WANT to play old games with new polish and performance. I want to play them as they were originally created and released. I also want to play them on original hardware, with an original controller on a CRT.