Hell yes. I have two and my original setup already in the apartment I moved into two weeks ago. I have to admit that its still my favorite console. Pretty much all the old school arcade classics are on this thing; Crazy Taxi 1&2, Daytona USA, Hydro Thunder, House of the Dead, Dead or Alive 2, Soul Caliber plus too many other fighting games to list. It had all of the original Resident Evils released and most of the main arena stage strategy games. Shenmue and seaman are some of the most creative games I've seen on a console, and I still love THPS 1. It always hits a nostalgic chord with me to mention the Dreamcast.
I haven't tried any of the online games recently at all, the whole dial up network thing kills the deal for me.