VGS got sued to death by Sony. I guess that answers your question.
it is possible to make an emu without using the bios (just check out those than doesn't needed, one that could be at the side of this one is Dolphin, AFAIK it doesn't need it) but it is better to use the bios to avoid legal problems
CPU: intel T4200 @ 2.0 ghz
GPU: Intel GMA X4500M
Ram: 3 Gb DDR2
SO: WinVista Home Premium // Windows 7 Ultimate x32
I am curious how Dolphin has gotten away with their software. You don't need either a Wii OR a Gamecube to run any part of the emulator.
Hm I do recall Dolphin needing a gamecube file to actually work,they removed that then?
In any case,you can emulate bios in HLE or LLE although the attempts with PCSX2 didn't go so well,plus the legal problems that might cause aren't worth it.
Nintendo is not as aggressive as Sony on these matters,as it has been proven in the past with other emulators. Sony is the only one who has actually sued and shut down emulators afaik