Thanks! As for your questions/comments:
1) To be honest, not really sure which Emulators I'll be using yet. Like I said, been a while since I've messed with things, I was using MAME as my Arcade emulator and Daphne for Laserdisc stuff. For all the console emulators I was using various Stella for the 2600, MESS for Colecovision, NESStopia for the NES, Gens for the Sega Genesis and WinVice for the C64. As for controllers, I was using the Tankstick mapped as controller for all the systems. I've been considering maybe trying to add some actual legacy controllers to the mix, but that's not a requirement. I'll try the i3 for now and see how it goes, but keep an eye out for an i5-3570 or i7-3770. I do also have some other Motherboards/CPU's lying around I could repurpose including an AMD X4 740 Quad Core and an AMD A10-6800K, but I think the Intel parts are probably a better bet.
2) Yeah, I know I need x64 to run >4GB of RAM, just wasn't sure if LB worked better with the x32 OS and I should drop down to 4 GB of RAM.