While BC is good it's not a replacement for remasters in all cases. Emulation will never improve game design or make needed fixes. See the upcoming dark souls remaster
Yes, but BC is not meant to be a replacement, it's a great - and free - addition. Remember that emulation will likewise not make dubious and uncalled for changes to classic games. See the Bioshock collection, Return to Arkham or *shudders* Silent Hill HD Collection.