No, this one is the same as the jakks pacific joystick. 7 games in one. It's pretty cool.
There are other emulators available, not all of them work brilliantly.
One which works particularly well is called goboy which plays Gameboy and Gameboy colour games (.gb & .gbc files). So you maybe able to use your existing rom collection with it. There is alose a NES and Mega Drice/Genisis emualtor, but the later is in beta stage and very 'buggy'.
You can get that from wap.my-symbian.com
I have n't managed to get any games to play on it yet.
Heres the GBC game, Grand Theft Auto on my nokia 6600:
You can download the above files via wap by going to my wap site;
http://www.wapchimp.pwp.blueyonder.co.uk/6600goboy.htm
Enjoy!!