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BasilZero said:

Emulation - save states, not needing multiple systems hooked up, ability to modify the visuals to make it different from the original, play region locked games without having to worry about being region locked.

Edit: Also dont have to worry about running out of copies especially if you have the option to buy games on DD storefronts like Steam, PSN, eshop, VC.

 

Not to mention stability; when I play games on emulator, they play not only better, but with less crashes and problems as well. It really is astonishing how easy emulating has become from only 5-6 years back.