@Kale
Yeah I would probably enjoy my PS3 if it had PS2 backwards compatibility... but then again, my PS2 is right there, so that's no problem for me.
As for the 'bigger hard drive', I'm savvy enough that I can swap out hard-drives on my PS3 (you just buy a new laptop-style hard drive and swap it if you need new space). So I purposefully chose to buy the lowest HDD PSP-Slim, so that I can just cheaply replace the drive when I need to.

@Freak
Which version of the emulator do you have? They have a new version that came out only last month. I use the Homebrew Browser to update all of my emulators, whenever I have a chance. I also love how some emulators self-update when you run 'em (FCE UltraGX, Snes9xGX, and VBA-GX do this).
@Crisis
Wow, the Twilight Hack. No, people don't use that anymore. There are much simpler, much easier methods, now that you can load games off the SD Card Slot. You download a special trick 'game' and put it in your SD Card, then when you go to your Wii Menu, choose to load that 'game' and it'll exploit the system and install the Homebrew Channel (and if your system isn't updated, it might even give you more functions and a secondary boot process so you can 'backup' your entire system). Once you have the Homebrew Channel, plenty of emulators and some decent homebrew games become available through the "Homebrew Browser" app.
I love playing Quake on the Wii with Wii controls! xD