My friends had ColecoVisions while I had just an Atari 2600 VCS. There was no comparison in the graphics and sound, the Coleco was like the arcade and the VCS was like block land.
Now I can play ColecoVision games via emulators using any controller I want.
I dunno if the SN76489AN is software compatible, but there's a few companies making modern AY-3-8910 (the sound chip in the Master System) equivalents. There's the JFC 95101, and I believe the Filfact KC89C72, though the origin of that one seems quite strange; zero information on the company that makes it or what else they make is out there.
Colecovision technical specs are better than the Mattel Intellivision, which are better than the Atari VCS.
The Colecovision has the same video chip as the MSX 1 systems, TI-99/4A, Thomson MO5 & TO7, and Oric, and the same sound chip as the BBC Micro, IBM PCjr, Tandy 1000 and Sega game consoles.
The Mattel Intellivision video chip was not used in other systems. The sound chip was used in the Apple II Mockingboard, MSX 1, Oric, Vectrex, Amstrad CPC, and ZX Spectrum 128.
We had Intellivision in the US. Growing up, I had a friend that had one. The Atari was more popular (and cheaper) as I recall, but Intellivision was definitely were a presence.
https://www.leadedsolder.com/2020/07/10/colecovision-diy-par...