The reason I like classic (pre- Playstation) games so much is that I always felt (even back in those days) that hardware restrictions actually forced game companies to be even more creative!
Especially back in the days of the NES, it always seemed to be like -
Game exec: "We only have it in the budget to make a 2D side-scroller. But there are so many of those on the shelves already... how do we make our game stand out from the rest?"
Programmer: "Well, what if our character couldn't jump?"
Game exec: "ARE YOU CRAZY?!? *ahem* But, you've certainly got my attention - go on..."
Programmer: "And, instead of jumping, you have to like, use your bionic... uh, extend-able... metal arm, maybe?"
Game exec: "BRILLIANT!"