I'm at 45 vs. 123 right now.
Feel like I'm pretty much done with everything I want on the N64 (even stretching to some mediocre stuff) but I'm nowhere near getting every PS game I want. Shit, I still hear about new ones I never knew existed from time to time. It's great!
There are easily over 123 N64 games well worth owning!
Of course it makes sense to have more PS1 games -- the PS1 has many times more games FOR it, after all -- but the N64 has a lot of great games too. It's the best console ever for a reason.
As for me, just yesterday I finally managed to figure out how to use formulas to count up how many games I have for each console in my spreadsheet of all the games I own (that I've been putting a lot of work into adding more detail to in recent months). For 5th gen systems, I'm up to 243 PS1 games, 184 N64 games, and 136 Saturn games. Still lots more to get for all three!
As for the Super Nintendo, up to 206 now. Genesis... Genesis alone is below the SNES, 194, but with the Sega CD (56) and 32X (20 + 3 32X CD) it's above it -- 268, the most games I have for any console (PC is of course far above that though). And to be complete, I now have 160 Turbografx games -- 77 HuCard games (more imports than US releases by a wide margin!), and 82 CDs (like five or eight US versions...).