But the reason those Saturn emulators are crap is because so are their programmers. The Playstation is way more powerful than the Saturn (With out question), but because there is reason enough for great programmers to program an emulator (ie Loads of software), there has been great emu's released (ePSXe and others).
Sega Model 1/2 arcade emulation will be cool, but thankfully it's not linked to any of those shit Saturn emulators and I'm not actually sure that they share any hardware with the saturn at all, as far as I remember it the Saturn is the same as Sega S-TV arcade board NOT
the Sega model 1 board. Thats probably why Virtua Fighter on the Saturn ran so god damn slow IMO, nowhere near arcade perfect and don't even mention Daytona USA.
Also I hope you know that there are two Sega Model 1 emu's in the works, SMOG