Linux Box

I need a linux that I can just pop in an old computer and install a nintendo emulator easily on.

How about Ubuntu and install one of the many emulators from the software center?

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Is it possible to put more than one Linux distros on a Live USB? And if you do, how do you choose which one you want to use at start up? Does it look like the dual-boot screen if you had a dual boot on your computer?

It depends on the size of the usb and [...]