What emulation options would you classify as better though?
A custom PC build, exclusively made for emulation, where you actually use raw input with a video card capable of true analog out via VGA (you can get both RGBs and RGBHV from it) with a heavily customized windows installation with lots of the useless stuff removed, Windows XP (32-bit) or 2003 (both 32 and 64 bits) would be excellent candidates for this.
And then you need custom video drivers and *accurate* emulators playing nice with the custom drivers in order to have them output the console's native resolution.
It can be done, most of it is on GroovyMAME's forum, but it's, obviously, more expensive than a MiSTer setup and it takes a huge amount of knowledge and time to properly set it up.
Not only this might end up being a better solution than MiSTer (depending on the setup and the emulator used), but it would give you a huge amount of possible customization which you don't get with the FPGA and you have a *HUGE* amount of power on tap with a custom PC build which will let you even get lower overall lag than even the original console/arcade board.
But it can definitely be done, so there you have it.
No one ever said it would be easy, cheap or fast, and it all comes down to what you define as "better".
Accuracy wise, I'm pretty sure bsnes, blast'em/exodus and others are still ahead of their FPGA counterparts.
The "revolution" brought by MiSTer is that it is:
• Cheap (compared to a custom PC build)
• Convenient (meaning that anyone can get one and have it up and running in no time)
• Way better than most other console clones available (and 100% better than your everyday PC, even with a very good emulator)
• (almost) Completely open source (which means that anyone can contribute and improve the cores)
• Expandable (ie: external/additional RAM)
FPGAs *WILL* get better and better, no matter what, and with the above points which are going to be always valid, they are going to become the way to go for not only 100% accurate emulation, but also "plug'n'play" for those who don't have lots of the knowledge to get a proper PC setup.
I've seen this kind of comment brought up thousands of time and grew
REALLY tired of this, so it's the last time I'll ever get into this topic, but I hope it'll clear people's doubt on this whole "FPGA vs others" argument.