Brand new. Here's the scoop straight from Analogue:

You've always known what to expect from a video game system. Until now. Duo is an all-in-one reimagining of perhaps the most underappreciated video game systems of all time. Analogue Duo is compatible with nearly every NEC system and game format ever made. TurboGrafx-16. PC Engine. SuperGrafx. TurboGrafx CD. PC Engine CD-ROM². Super Arcade CD-ROM². 1080p. Zero lag. Bluetooth. 2.4g. Because the last thing a video game system should be is predictable.

Completely engineered in FPGA.
Analogue OS.7


No emulation.

We're preserving history with FPGA hardware. Duo is designed with unparalleled compatibility. The core functionality of each system is engineered directly into an Altera Cyclone V, a sophisticated FPGA. We spent thousands of hours engineering each system via FPGA for absolute accuracy. Unlike the knock off and emulation systems that riddle the market today, you'll be experiencing the entire NEC era free of compromises. Duo is designed to preserve video game history, with the respect it deserves.