I'd love it too, except it won't happen within a short period of time. Reason: There is only 2 Dreamcast emulators in progress right now, and neither can boot up anything but demos (and they run slowly, at that). So unless someone improves either of those emulators, or writes their own, a feasable Dreamcast emulator on any platform, much less the XBox, won't be released.
Sucks, I know. I got about 100 Dreamcast games waiting to be thrown on the XBox's HD for all my gaming needs.... =-)