D. No Way. Error handlers rarely work as real characters. And by that I mean it only worked once. In Mortal Kombat 'ERMAC' actually means Error Macros. In the first? game some fans got access to a data listing not meant to be seen by players, and the Error Macros were listed after the character roster in shorthand due to screen space limitations.
A better explanation and additional information is at Did You Know Gaming's YouTube Channel.
MissingNo. will never work it was designed as an error handling placeholder, nothing more and it doesn't have the same sort of lure as would be required. Plus, it's name doesn't sound like anything, and it has a known form.
Looking forward to Pokemon X and Y. White FC: 0862-2660-4156 / 3DS FC: 2492-4470-1418 / White 2 FC: 4556-7836-2644