Actually a Pandora would be the best way to go. A high-end Android phone and a Wiimote (actually a PS3 controller is an even better way to go, no dangling wires) would give better results than an iOS device though. It's simply much easier to find the emulators and install them, put ROMs on the phone, and there's just better emulator support. N64oid runs perfectly with a Tegra 2, but even on my Thunderbolt's 1ghz Snapdragon most games play with little slowdown. I can't exactly speak on personal experience with the Pandora, but if you check it out online and see videos on YouTube, it is pretty awesome, and was designed exclusively with console/handheld emulation in mind.