I played around with retro pi and emulation station. It works well for a simple setup, but the raspberry pi lacks the power to emulate 3D games and above like Dreamcast, N64 and PS1 and above.
If you have an old gaming PC laying around, that would be a good platform. As the CPU and dedicated video card is much more powerful than what is on a Pi.
Ahhh okay! Well that certainly makes sense. I'll kick the dust off my old alienware laptop then and set it up there!
Rpi can do PS1 pretty well, but your Alienware will still make for a more robust system.