The cell processors architecture pretty much rules out high fidelity emulation directly on an x86 chip any time soon.
Not all hacks have to be useful (even for a given value of useful).
The SPU's are a fundamentally different architecture to an x86 been something akin to a graphics card, heavily optimised for a very particular kind of floating point calculations (somewhat similar to SSE but much more task focused).
A more likely approach is to use something like CUDA/OpenCL but again while closer in architecture the SPU's are incredibly optimised for one thing.
EDIT: DCKing corrected me on this I erroneously assumed that the CPU architecture was the main hurdle. Turns out the GPU is a much bigger problem. The more you know, thanks DCKing.
That's not to say the exotic Cell architecture is not a major problem for PS3 emulation. It is. But having an x86 CPU does not seem to increase the emulatability of a console at all.
[1] http://www.neogaf.com/forum/showpost.php?p=48088464&postcoun...
How is that relevant? Is there any code compiled for the Xbox that actually relies on how the P3 handles microops and pipelines things and all that? Cause if your argument is "X=A+B+C+D" might have several different ways of happening, the answer is that it doesn't matter. So I'm not sure why the author bring this up.
The Wii chip is also OOO but Dolphin seems to do a fantastic job.
That said, timing matters in these tight inner loops, and that is where the details of the CPU pipeline matter, with respect to emulators. How many nanoseconds would it have taken for the emulated CPU to execute those instructions? That requires knowledge of how the CPU works. And sometimes, unfortunately, game code stupidly depends on these details.
On the Xbox, is that really the case?
LLE/MME can work, but it's significantly more effort to pull it off; that's the approach I was taking, when I was still working in it.