Is, in the case of Saturn and Jaguar, emulation really stealing?
The Companies, who made these games are no longer selling them, so there is no money going there. The few originals, that are out there, are getting top prices on Ebay, so it doen´t seem to affect their value. Collectors who want them, are willing to pay for them and the collectors value of the game is not reduced, no matter how many copies are out there. Radiant Silvergun will always cost 100+ bucks at least, no matter if there are more copies than originals in existence.
So in legal terms it may be stealing, but do we have to live with a bad conscience? I don´t think so.