What if there was an All in 1 game console, would you buy one. For example, a game console that plays current games(generation) like Wii, 360, and PS3. Dreamcast, Xbox, and PS2 for another All in 1 game console for older generation systems and so on Get what I mean? Emulation doesn't count too.

Something like that would cost an arm and a leg, and then some.

And a major money loss for Sega, Nintendo, Microsoft, and Sony, respectively.

So your saying would we buy one or the other of 2 different "All in 1" consoles. 1 for new system and 1 for old?

Cause by that then from the start they wouldn't be playing all the consoles. If it was possible though for sure I'd by one!!

There would be emulation involved, no questions asked.

"KEEP" set this goal upon itself (more ambitious than MAME and MESS, from what I see).
More here: link

Being planned to be crossplatform, porting wouldnt be an issue (theoretically for now, as the driver-based design is similar to MAME's, and technically could be extended to cover new consoles and new gamesets). Apparently based in party on the design of Dioscuri, btw.