I can say outright that collecting original hardware will come later if you really care about it because it's by far the most expensive option. Otherwise it's split based on what hardware you already have to work with:
If you have a decent to great PC
The easiest way to get back into it is to use time tested emulators specific to each console. If you've got a decent PC, you can run most anything. The better CPU, the better it will run cycle accurate emulators like BSNES. I recommend this path regardless because it will be a good way to ease and compare different approaches later.
I would stay away initially from multi-emulators like MAME and emulator frontends like RetroArch, which are useful but overwhelming and unwieldy. If you start to feel hampered jumping from one emulator to another, then you might consider Retroarch. Alternatively if you're hankering for specific arcade games, MAME is still your best bet.
If your PC is crap or you want to play on a TV
Here's where you have to cough up some dough but you have a ton of options.
Raspberry Pi: An extension of the emulator approach for PC except it's under powered hardware and cuts a lot of corners (often way too many if you care about accuracy). Some people are perfectly happy with this and it's the cheapest option but you get what you pay for. Also right now Pi's are harder to come by thanks to global supply chain problems.
Paying for Official Emulation: This is often the most convenient route for people who just wanna scratch an itch or want the cute little box on their shelf. Here you can get the Switch Online service if you have a Switch and a bevy of mini consoles from Nintendo, Sony, and Sega.
MiSTer: I'm biased because I think the MiSTer kicks ass but it's the best solution of all with two caveats: it's not the cheapest option and it's a bit tinkery. But the benefits are huge and you're a part of the frontier of retro gaming preservation and excitement. Don't start with this first but if you catch the retro bug and want to go deeper, the MiSTer is a great choice. It's among the highest quality accuracy of any solution, compact, versatile, and because it's open source, it's growing all the time. Right now it's got an immense collection of consoles and home computers that it is hardware emulating incredibly well and is all in one place. It's a bit of a clunky interface but not too bad. As with any hardware solution, it's a bit constrained by global parts issues but it's bouncing back a bit.
(P.S. There is the Analogue family of consoles but you're only doing that if you have a cart collection already and still want the convenience of FPGA. It's technically cheaper but it's a per-console proposition which makes the MiSTer worth it in the long run).
I hope this helps. Feel free to elaborate on what sort of set up you're aiming for and I'd be happy to gab on.
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