That's why I said it comes down to the individual, it's a very hard thing to define
I've always agreed, and while I love FPGAs, I personally do consider them a slight variation of a software emulator...
That being said, I've always thought it just comes down to an emulation Turing test, so to speak.
You put the FPGA based system in an Amiga case with an Amiga keyboard and an Amiga floppy and let me use it (without telling me what it is)..
If I can't tell the difference, then it's just as good, even if it is emulated. ;-)
desiv