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There actually are some security implications to emulation; a malicious ROM can potentially exploit a hosting emulator. Emulation code needs to run very fast, so safety measures like bounds checks often don’t exist. In terms of code safety, emulators are some of the worst programs you can run.
The ability to play my NES / SNES / N64 games on my iPad, to go back to Symphony of the Night or Breath of Fire 3, that would be lovely but given the risks I have to wonder if Apple will really allow it. 🎮