Greetings.
Just this weekend, I got one with a PSX and a Nintendo 64 after many years of emulating all the retro systems, and I have to say that although the first few hours with those systems were pure fantasy, I think I'd still stick with emulation.
Based on my experience and perception, I think emulation today is just as good as the original system, except for the feel of the CD or cartridge format. But in every other way, it's better. For example, it lets you use any controller you want, add filters, improve the image, or leave it as it was before. It's all faster and more practical.
For me, both are wonderful, but if you don't have the right place and the right tools for the original systems, it's a hassle.