the #demoscene still strives to create demos that break emulators: https://trixter.oldskool.org/2015/04/07/8088-mph-we-break-all-your-emulators
but yeah, 'reasonable fidelity' is a good criterium I guess. ;)
I can imagine though that the loud 'clack' of a power switch, the loud whirring of the spinning rust and fans, and inserting of big floppies, is a big part of the nostalgia.
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