Cost effective MAME box?

Shapey Fiend

I've got an SD TV and a usb PS3 stick. Surely there's some cheap way of me getting MAME and other emultors on there? The idea of spending 200 euro building a mini pc is more than I'm bothered paying for the occasional game. I'd rather get an old XBox or something. Are there any Android boxes that work with a stick and don't suck?

Stuxnet

a raspberry pi, they are awesome

lots of prebuilt mame type distros for it

http://store.raspberrypi.com/projects/mame4all_pi
http://lifehacker.com/how-to-turn-your-raspberry-pi-into-a-retro-game-console-498561192

CiDeRmAn

The Raspberry Pi is a great solution.
Another one is the current emergence of Android based consoles.
Ouya and the like are cheap and run well supported emulators for every system you can think of.
A modded Xbox is also great but you'll need to source one and then get out modded, but there are good Mame releases that look very professional now.

Shapey Fiend

I'd forgotten about the Raspberry Pi. Sounds a bit of a pain in the arse to set up (I'm more lazy than luddite) but might give that method a go. The price is certainly right.

The Last Bandit

Prebuild OS tailored for emulation..

http://pimame.org/