I am more comfortable at discussing consoles native capabilites in terms of polygons count. Also I am certain "homebrew" limitations can be very intricate to determine.
Now, apart from this nice initiative (which provides a stamp of approval to retro gaming in a way since its "pay per view") the piece of hardware that I find remarkable is the classic controller
(it's possible to get a normal one in stores & pro version imported from Japan). Definitely a step in the right direction.