You're still at it with obsolete measurements? You realize the 3DS crushes the PSP? And the Xbox One has a 1.7Ghz CPU as opposed to the 360's 3.2Ghz CPU? Would you say the 360 is stronger than the One?
I don't think that was the point of his comment at all. I'm pretty sure he's saying that cross compatibility between CPU architectures is a nightmare to get working perfectly. The PSP was a super weak console, yet did a pretty phenomenal job at running an N64 emulator (Daedalus X64 on PSP was amazing). Part of this was because both systems used a MIPS based processor, which makes the job a lot easier. The PSP is probably among the weakest hardware ever to receive an amazingly functional PSP port. The same can't be said for other processor architectures. For example, emulating MIPS based stuff on an ARM processor is very, very hard. Just take a look at PPSSPP. They emulate the PSP, but you still need a pretty damn hefty phone to get it running well, and the emulator has been in the making for well over two years now. 4th generation Snapdragon processors with the Adreno 320 can pull off amazing graphics for apps that were written for it, but struggles to run PPSSPP at a decent speed. x86 doesn't suffer from this, because x86/64 CPUs are based on black magic where everything just runs perfect for no good reason. Yet as powerful as ARM CPUs are, even the most powerful are far from perfect from emulating MIPS correctly. To add to that, N64 emulators have been available for ARM processors much longer than PPSSPP has, and they are by far among the buggiest emulators ever, not because devs suck, but because it's not easy to get it right. Like some other guy said, there has never been any fully accurate emulator for a console, and the most accurate one is a SNES emulator that is pretty intense on resources.
Now back to the 3DS. We're talking about a pretty low power, low clocked ARM11/ARM9 CPU here, trying to emulate something as hefty as the N64. It's not impossible, but it's more than likely not even worth it. Maybe a PoC just to say hey, we did it, but at the end of the day you'd probably be better off getting another device to emulate N64 titles.