Or you could just steal software like everyone else and every company will make crap no matter what.
Zulithe, you are correct, the law guarantees your right to copy any piece of intellectual property that you rightfully own, but not to distribute it or sell it.
In most cases owning classic ROMs is quite legal. I'm trying to figure out the specifics of such cases, but it may take some time.
However, copying Game Boy Advance and N64 roms (the most popularly emulated system) is completely illegal. Furthermore, it discourages the software industry, taking money out of it and decreasing quality across the board. So, in the long run, software piracy results in lower quality products, bankruptcy of small companies, and higher prices.