Limitations may spur creativity, but setting arbitrary limitations on purpose doesn't work. All those home computers in the 1980s were cool because their limitations were a matter of engineering. People actually made them as powerful as they could at the time! And sure enough, we still find ways to push them harder 35 years on.
That said, limitations also help you actually finish a game, because otherwise it's all too easy to get ambitious and try too much. Leaving stuff out is a big part of design.