Interesting, it seems to be a bit more than just a Genesis emulator though. In theory it can be extended to almost any system. Though I doubt you'll get realtime Dreamcast emulation out of it anytime soon.
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Its all a part of their strategy, there heavy hitters are going to be the upcoming Mario and Mario kart games for Wii u that they are going to show footage of at e3.
>.> I understand that.
I seem to recall the general consensus being all style, no substance.
All that said, I'd be perfectly content to let the series lie dormant, not that it will happen, but I've truly felt this way since 4 was released.