Fozzy and Organic Jerk, I agree with you. I gave the same answer (NO). But nowhere does the OP state he is using MAME. It's probably an accurate assumption, but might not be a fair one.
It's not even about the possible existence of a commercial emulator or the DMCA (though the DMCA plays a HUGE part in this scenario), it's about the ROMS themselves. Archiving software is specific to volatile media (ie floppy disks). There was a court case preceding the DMCA which crossed the topic of ROMS. I'll have to verify my facts, but IIRC, ROMS are not considered volatile media and, therefor, are exempt from the archiving clause. It's also a persistent myth that having the original ROM (even non-working) somehow allows you to have a copy of it from other sources. Again, if IIRC, there is no section addressing this specific action and probably wouldn't stand up in court anyways.
There is a section that does allow a copy to temporarily exist for the purposes of repair and/or though normal operation of the intended (in this case, original) hardware. This is the "archival copy" that Fozzie mentions, though I wouldn't go so far as to actually call it an archival copy.
You don't even have to bring the DMCA into this discussion, it's moot.
Up until about three years ago, I practically humped the statutes relating to this. If you're going to be around people who are going to break laws, it's a damn good idea to know what's being broken.
