No, it wouldn't count. A little while back there was a company that got in trouble for selling an emulated game even though they had the actual ROM chips in the machine. I don't see a difference between using and selling (in this context) other than the odds of being caught.
The only way to get a license for a ROM is to get a license for a ROM. Anything else is technically illegal* under the DMCA and is copyright infringement, so take a look at the funds you have to spend on a lawyer, compare that to the odds of being caught, and act accordingly.
*unless you buy a board and then rip the ROM yourself and use it for "personal use only". Whatever "personal use" is... I don't know, argue it in court. Same with downloading vs. ripping, someone (other than me) can pay to have that settled in court as well.