SNOAC = Super Nintendo on a chip. There are a number of SNES clones (Retro Bit Retro Duo/Trio, Retron 2/3, GamerzTek 16-Bit clone, Yobo FC-Twin), but AFAIK, they're all composite/S-video out. Gamerztek just released an NES clone with HDMI (on the heels of a Famicom clone that did the same about a month ago), so I would suspect they've looked into doing an SNES clone. It's still the cheap system-on-a-chip clones they tend to make, though.
I've never used a Framemeister, so I can't really comment on its worth.