I'd rather play the emulators on something other than a phone.
Haters gonna hate.
Who said anything about it being just on a phone? Many Android tablets are strong enough to run a lot of emulators (PSX, N64, SNES and GBA). Hook that up to a large TV via HDMI when you're not at home and you have yourself a portable old school emulation device. That, coupled with a PS3 controller for ease of use makes it a plus.
That said, this is more of a "look what I can do".