Germany isn't any better though, in fact, Germany has even more restrictive and absurd copyright law than the US.

Here:

The manufacture, import, distribution, sale, rental, advertising with a view to sale or rental and the possession for commercial purposes of devices, products or components as well as the provision of services which:

1. are the subject of promotion, advertising or marketing with the aim of circumventing effective technological measures, or
2. have only a limited economic purpose or benefit other than the circumvention of effective technological measures, or
3. are primarily designed, manufactured, adapted or provided for the purpose of enabling or facilitating the circumvention of effective technological measures. \

is prohibited.

And I'm certain that Nintendo will choose the correct court to argue any modern emulator is violating this to sue in. After all, one court in particular is notorious for ignoring all reason when it comes to copyright. For instance, it ruled that you are violating copyright for publishing photos of your home if your walls have a photo wallpaper. After all, making and posting an image of the copyrighted design of the wallpaper on your website, even if the wallpaper is just in the background, constitutes an illegal copy.