I did some Specs comparisons with the Gamebuino, Microvision, & RCA Studio II. (Wikipedia, I give you many thanks!
)
Gamebuino (Taken From Site for Reference) :
CPU : atmega328 @ 16Mhz (like an Arduino Uno)
Display : 84*48px monochrome (like the good old nokia 3310) + auto backlight
Sound : magnetic speaker, 4 channels
Input : Arrows + A B C buttons
Communication : 1x micro USB, 1x micro SD card, 2x I2C
Microvision :
CPU : Intel 8021/ TI TMS1100 @ 100 kHz
Display : 16*16 LCD Dot Matrix
Sound : Piezo Beeper
Input : 12 Buttons, a paddle
Communication : None
RCA Studio II :
CPU : RCA 1802 @ 1.78 MHz
Display : 64*32 B/W Monochrome
Sound : I Don't know D:
Input : 2 0-9 No. Pads on-system
Communication : None
As you can see, the Gamebuino outweighs both by a ton.
Emulating them could be possible, most likely.