A CD system like that would be awesome - Sega CD, TG-16 CD, and 3DO just used standard CD formats (don't forget how pricey CDR drives and discs were back then) so one drive could play them all. That would basically be my dream system.
That would rock. I missed out on all those systems before, but I would sooo buy that and some of the old games to play on it.
I think the only reason there are NES variants widespread now is because Nintendo lost control of their patents or something like that. I read that somewhere, anyway. Sega probably kept better control of their technology or something.