Ok. Here is the basis for my opinion:
1. I am an intellectual property lawyer. I've litigated patent, trademark and copyright lawsuits.
2. I've seen these systems in action. I have clients in the video game business and have seen these actual systems in work. I've seen them display games with both copyright and trademark notices in the games.
3. Many of the game names mentioned are the subject of federal trademarks. All of them are copyrighted.
I'm not looking for a gold star - and I'd gladly accept a libel claim from the company selling these devices as truth is an absolute defense to such a claim.
Again, I'm not suggesting the thread be locked or anyone be advised - that was sarcasm. As an end user, don't expect any of the companies involved to come knocking on your door either.
Just because a copyright or trademark is old does not mean that companies will not protect it. See, for example;
http://yahoo.cnet.com/news/0-1005-200-2033973.html?pt.yfin.cat_fin.txt.ne (relating to PSX, N64, SNES and NES games).
http://biz.yahoo.com/bw/000419/ma_hasbro__1.html announcing settlement with some defendants in suit over Tetris, PacMan, Missle Command and Centipede.
I'm gonna guess the same folks who think this may not violate the rights of Nintendo and others are the same folks who claim they really thought the buy.com $50 off $500 coupon was supposed to be $50 off of $50.