I never miss an opportunity to pimp my own project
I have a similar reverence for limited systems development, and as such I built a virtual console that runs in your browser.
It has a 32bit CPU @ 72khz, a 15bit PPU @ 30fps, and limited addressable RAM and ROM space.
At the moment the only development platform available for it is assembly.
You can find it here:
http://vo-em.comThe wiki with specs and dev docs:
http://wiki.vo-em.comThat's actually quite intriguing. In fact, far more committed to the concept than what I was thinking. I'm definitely going to keep it in mind. If not, at the very least, as an excuse for me to finally get around to learning assembly(Something I've always wanted to do, but have been kind of intimidated by).
You may be interested in Pico-8, "a fantasy console for making, sharing and playing tiny games and other computer programs. When you turn it on, the machine greets you with a shell for typing in Lua commands and provides simple built-in tools for creating your own cartridges."
It uses lua but you can peek() and poke() at the ram etc...
linky:
http://www.lexaloffle.com/pico-8.phpI skimmed through some of the games provided on the site. This also seems like a viable option.