There are several emulators for arcade games as well. They aren't as polished as the console emulators though.
Those are not playable on touch only devices, since no multi-touch support in the apps. The following emulators are now a waste that I bought (unless I get a KB device) since no multi-touch. They played great on the Droid and good on the G1 clocked to 528mhz. Problem is I have an Inc.
1. Jarcade
2. Android Arcade Emulator
3. PCE16
All three are great at what they do- if you have a keyboard and if using a 7201 chipset, max clock (528mhz) is a must.
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