<< From what I've read it can't be done on most of the current hardware because of the memory architecture. >>
It's not so much of how the hardware architechture is. PS for example, the hardware architechture a total depart from PC, yet there was emulator.
The problem is that since everything in the box was designed and dedicated to process these game data, whereas PC is a multi-use platform. In order to emulate Xbox's games on PC, we will need a very powerful PC then the current ones.