benny1967 : I agree about the lack of information on this matter.

There are tons of emulators for other devices, for instance I have a gb emulator on my current mobile phone which runs under Java and they never had any problems with Nintendo.
There have been Nintendo emulators for years, and even the most recent ones (Dolphin, which emualtes the NGC and the Wii) don't seem to have any legal problems.

I think Nokia's big mistake was officialy advertising classic gaming on the N900 in one of their Presentation videos. However, I doubt that there will be any problems for Nokia.