Well, it's nice to not see Sega Saturn on this list, which means it's no longer considered a "failed" console. Hooray! Also, for the record, there are no "failed" consoles. All of these are great and if you're a fan of any of them and their software, then congratulations.
Obviously, I gave Dreamcast my vote. The fact that it's still going strong on the indie/homebrew scene shows the love is still there, even if Sega's finances at the time were horrible & the market just wasn't big enough for four major players. There's plenty enough room today. I do wish Sega could find a way too manufacture more Dreamcasts and resell the old games, even if only in limited quantities. The economics of this, of course, would make it all but impossible. Oh, well.
After Dreamcast, I'll share my love of Atari Jaguar, another star that should have shone brighter, but was never going to last much longer than it had. If only Atari Corp had solved their manufacturing & supply problems in 1993, and if only that killer software lineup. from 1994 had arrived earlier. Just look at the following: Tempest 2000, Iron Soldier, Alien Vs Predator, Doom, Wolfenstein 3D, Brutal Sports Football, NBA Jam TE, Sensible Soccer, Super Burnout, Towers 2 (the new Enhanced edition is awesome), Battlesphere. Add a very robust indie/homebrew scene just like Dreamcast, and you have a cult classic on your hands. I still place T2K in my All-Time Top 10 list. I love it. In fact, I'd recommend the Atari 50th compilation just to play it.
3DO is severely underrated and, while its early years were needlessly obsessed with chasing the "multimedia" dream, it finished very strong with some excellent games. If you want to explore this console, you will be very pleasantly surprised.
I was never a fan of 32X, but it does have superb translations of Space Harrier and Afterburner. I wish the entire software library was nothing but Super Scaler arcade games.
Turbografx/PC Engine deserves all the respect, it's a great little system with many hidden gems. It helps to be a fan of arcade shoot-em-ups, but any console with Devil's Crush and Dungeon Explorer is a winner in my book. I also love the audio on this system, very chirpy and melodic.