Given the cost of a C64 and disk drive, why emulate? As with the Amiga, you just don't get the same game feel from an emulator. That's why I've got a few C64s, several Amigas of differnent KS versions, a few PCs and a bunch of Macs.
The real thing is soo much better, although I do love to run Amiga pinball games on my Toshiba laptop...fun!
Congrats on your new 1200!