<< Even if xbox games can be emulated, you're forgetting a couple things.
The xbox is designed to run games, nothing else. There is no Windows OS or anything else taking up system resources. >>
You're forgetting about the stripped Win2k kernel, running in the background, taking up some of the limited resources.
<< Also, the games run in 640x480. We all know that 640x480 looks like crap on a PC. >>
It does? Then why do so many people play CS etc. at that resolution?
<< You'd want 1024x768 at least, and I am thinking that even with a more powerful PC you wouldn't be able to emulate it very well. If you could, why don't they make games this good looking on the PC? That video of that racing game is pretty f'n amazing but no PC games come close to it.. >>
Which rock did you crawl under from? IMHO current games are looking pretty good.
BTW, don't forget that the XBox does not have a 1.x GHz CPU, less than 128 MB RAM and its videocard can not be updated. Just wait till you've seen what the Geforce 4 and 5 can do
All with all, I see very few problems with emulating an XBox.