If you told me last week that we were getting a 1:1 hardware reincarnation of the ultimate '90s nerd status symbol, I would have laughed. We've seen the "mini" consoles. We've seen the arcade sticks with built-in ROMs. What SNK and Plaion just dropped is an absolute bombshell in comparison: the Neo Geo AES+ is real, it's coming this November, and it is going to completely empty our wallets.

If you're not familiar with the Neo Geo, potentially because you were born after it left the market, it was a bold idea from SNK circa 1990: what if we launch a modular arcade system with swappable games like a home console... and then sell the same hardware in a home console? Arcade operators liked it because it was cost-effective, and every single gamer in the world wanted one; the idea of "arcade games at home" was nuts in the early 1990s. Unfortunately, the $649 (in 1991!) starting price of the machine, as well as the $200-$300 required per game, priced the machine well above the budgets of the majority of gamers.

So it goes that we now have the Neo Geo AES+, an all-new machine that fully replicates the original system. Indeed, let's get straight to the biggest talking point of this entire announcement: no emulation. Instead of relying on software emulation or even an FPGA chip (like the brilliant Analog machines or MiSTer setups), Plaion and SNK have apparently custom-fabricated new ASICs to replicate the original 16-bit chips. The decision to go with actual silicon this time around communicates a massive amount of sincerity; SNK and Plaion are clearly intent on honoring the legacy of the most powerful 16-bit machine ever made.

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That being said, it's worth noting that the hardware inside the AES+, whatever it actually is, isn't identical to the original 1990 motherboards. SNK has added a built-in overclocking function (accessible via system DIP switches) to iron out some of the infamous slowdowns in heavy-hitting games, as well as a low-latency HDMI out for modern displays. The machine still supports A/V out if you're keen to use it on a CRT, though it's a bit of a shame there's no S-Video or RGB out.

The new AES+ controllers, both the classic clicky Arcade Stick and the Neo Geo CD-style Gamepad, are a modern retro enthusiast's dream. They can be used completely wired via the classic 15-pin connector, or wirelessly using a special dongle. They feature a rechargeable battery that charges via USB-C, and yes, they are fully backward compatible with your original 1990s AES hardware.

SNK is dropping a launch lineup of 10 physical cartridges for $70 a pop. Because this is an authentic hardware recreation, the system features a full-sized cartridge slot that supports original AES cart from the 1990s. The ten games launching with the Neo Geo AES+ are:

• Metal Slug (action)
• The King of Fighters 2002 (fighting)
• Garou: Mark of the Wolves (fighting)
• Big Tournament Golf (sports, aka Neo Turf Masters)
• Shock Troopers (action)
• Samurai Shodown V Special (fighting)
• Pulstar (shoot 'em up)
• Twinkle Star Sprites (shoot 'em up)
• Magician Lord (role-playing, sorta)
• Over Top (racing)

Looking at the AES+ launch lineup, it is undeniably banger after banger. However, it's a little odd that only the first Metal Slug made the cut. There are also some glaring omissions; where is Magical Drop III? Where is Waku Waku 7? And most importantly, where is Blazing Star? "YOU FAIL IT!"

The absence of these heavy hitters just points to the overwhelming likelihood that Plaion and SNK are planning to release more waves of games in the future. The Neo Geo library isn't the biggest in the world, but it has way more than just ten excellent games. Another interesting detail is that there are numerous brand-new games either released in recent years or currently in active development for old machines, particularly the Sega Genesis and the Nintendo NES. With the AES+ making genuine Neo Geo hardware accessible again, perhaps there might be wholly new, modern indie games on the way for the AES+.

Writing about this brings up a lot of memories. Growing up, the Neo Geo MVS (the arcade cabinet version) was relatively common out in the wild thanks to the aforementioned solid value proposition for arcade operators. My local Mazzio's Pizza joint had one with several games, and even my local corner store had a big red cabinet with a couple of games in it. That machine in particular ate a great many of my quarters, mostly for Samurai Shodown 2. The AES home console, though? That was nearly a mythical beast.

My only real experience with the home console back in the day was when my friends and I pooled our cash to pay an enormous $300 deposit to rent an AES from a local video store for a weekend. We brought home the console along with World Heroes, Ninja Commando, and Burning Fight, and we stayed up almost the entire weekend chugging Jolt cola (yes, really) just to maximize our time with this awesome, impossibly powerful machine... even though we didn't actually like any of those three games all that much. That was the only time I ever saw an AES in person until they suddenly became a "retro" luxury item in the 2010s.

If you're chomping at the bit for a chance to own a new Neo Geo, you can head on over to Plaion's website to lock in your pre-orders. You can grab the standard black console (with one wired stick) for $249.99, or the gorgeous "Ice White" 35th Anniversary Edition (with a wireless stick, memory card, and Metal Slug) for $349.99. Then there is the $999 Ultimate Edition, which includes all of the new AES+ products: the system, both types of controllers, a memory card, and all ten games in the launch lineup.

A thousand bucks is a terrifying amount of money for a retro console, but if you actually do the math, the Ultimate Edition is saving you a solid bit of cash (about $175) over buying the console, the controllers, the memory card, and all 10 launch games separately. Oddly, though, there is no "Ultimate" bundle available for the white 35th Anniversary system—if you want the big kahuna package, it only comes in classic black.

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Zak is a freelance contributor to Tom's Hardware with decades of PC benchmarking experience who has also written for HotHardware and The Tech Report. A modern-day Renaissance man, he may not be an expert on anything, but he knows just a little about nearly everything.