Nice try, but ultimately not practical!
The idea behind emulating older systems on newer systems is that they fulfill the following requirements:
1) They are quick and easy to get up and running (turn on and play)
2) They run faster than the original hardware
3) They do not have enough system control to cause instability with the parent system
4) The blast from the past is actually fun and enjoyable!
This fails miserably in every aspect:
1) It is not quick and easy to get up and running, as it sometimes doesn't run at all, tends to have problems with Homebrew Channel and normal Wii options/settings
2) It is not faster, as it takes 5-30 minutes, depending on the size of the game, just to load (if it loads at all)
3) More than 75% of the time, it causes the Wii to lock-up and requires a hard reset
4) By the time you get any game to load without crashing, you are so frustrated, the retro enjoyment is GONE!
Why on earth would I waste my time (even 5 minutes worth) to load PacMan? My Mac Mini loads PacMan in a tenth of a second.
Like I said... the concept is nice, but ultimately it is a failure and a complete waste of time.