What are you waiting for?  Get Megaman Legends the first ASAP it's like Zelda, but with Megaman and a buster gun.  On a side note Megaman Legends 2 isn't quite as good, but good none-the-less. 

Availability is the biggest issue for me: it's not on the store shelves, and if it's on XBLA/PSN, I'm still out of luck.

You'd be surprised at what you'd find at game stores, not the big ones of course the little ones run by random people and arn't generally at a mall.  I bought my greatest hit edition of Megaman Legends last year sealed.  Mind you its the only edition I have.  There's also those PSP re-releases not in NA but I'm sure you might be able to aquire them through some means.

It might not be your thing but playstation emulation is very solid now and getting the roms and emulator for MML is more than worth it.

That was old Capcom, the Capcom that took a risk with Clover studio, I love God Hand and Legends but I don't think Capcom is going to make sequels, the money seems to be somewhere else (Vanquish by Platinum Games for example).

I'm not completely opposed to the idea for older, unavailable games, but I'd want to look first for a legit copy.  Question though: do you know of any good, easy-to-find Saturn emulators?  My Saturn no longer retains save data after it's turned off, and I don't want to pay more money to buy a memory card just because the hardware has crapped out.

Saturn Emulation is a problem.  No one has really done it right.  Saturn's worst of a nightmare than the PS3 is on a hardware level probably not worst than the PS2 though.  So no one's really had the initiative to do it.  Yabause I think is the only one out right now, no idea how far a long it is though... actually looking quickly Satourne is the best Saturn emulator though I have no idea how well it is.

That's not what I wanted to hear.    But thank you: I'll go give Satourne a look-see.

I loved Legends. Please let this be true!

never played  Legends game, but Id be stoked for more Mega Man.... maybe X9?