Originally Posted by Daedalus
And this is my point. Glad we're in agreement here.
Yay, a discussion on an Internet forum ended with two people agreeing.
From your dictionary quote, I can see how it can be called emulation. They are mimicking the 68k core but since they have not copied it directly (and probably don't have access to the original blueprints), it can be called emulation by that definition.
Lots of people think of emulation in terms of WinUAE and that is something very different indeed. Many people seem to think that the Vampire would be more 'genuine' if it had an ASIC instead of an FPGA but that is important to clearly state that it is the same, only the ASIC could run at a higher clock.