yes it is. you are only allowed to make a copy (which must be made by you not downloaded or received from someone else) which runs on the same device as the original. This rule was made so it the copy gets damaged you still have the original. but in the case of Mario 64 is must be played on the N64 and no other device.
That is absolutely not what the law states, and has been proven repeatedly. See Sony vs Bleem!, Sony vs Connectix, etc
Emulators for any computing device can be implemented on any other computing device, as long as they do not contain copyrighted material (ex, bios files). Copyrighted material cannot be shared, but personal rips can be created in most countries and it is perfectly legal for such software to be used in emulators as long as again, that data is not distributed.
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