Answers in numerical order:

1) Depends on which system you want to play. Here is a whole list of emulators for pretty much every system out there (except for current generation). A few ones I would recommend would be ZSnes (SNES), ePSXe (PS1), Nemu64 (N64), and VisualBoy Advance (GBA).

2) According to Gamespot, Naruto: Clash of Ninja will be released on March 7th. From what I have heard, it is just a bad copy of Naruto GNT with dubbing.

3) Depends on what type of games you like. A few games I own and would recommend are Super Smash Bros. Meele, Tales of Symphonia, The Legend of Zelda: Wind Waker, Metroid Prime (and its sequel), and Viewtiful Joe (and its sequel).

Hope I could help.