I tried the framemeister and sold it. It was nice enough but really I didn't feel it was worth it. Bought a nice TV that had good ratings for low input lag, as well. Tried the retron5, retro freak, ouya, and a few other emu type boxes and ended up going back to original hardware on my 36" Sony Trinitron for gaming and watching stuff on older media formats.
Don't get me wrong, the stuff wasn't bad, just to me wasn't worth the cost to me for the experience. I enjoyed the games just as much on my tube set up.
When I do want to put up a movie from an older format onto my newer tv I do have a box to help out with that.
All, in all, I guess it is what a person wants out of their viewing experience. B/W movies don't feel right on the lcd for some reason, so I usually watch them on one my older sets.