OK, Just finished Testing this Emulator.
There are some bugs.
Just a heads up on how I am set up.
On my Friendtech 1481 MHz (not 1479 as previosly reported)
128 Meg of Ram
120 GIG 7200 Spin Hdd
Dashboard (xbox one) set to Componet HD inputs at all resolution 480i, 720p and 1080i - MY Preference is 720p
Dashboard (Xbox one) Audio set to Dolby Digital DTS and DD Enabled
MY Xbox boots to XBMC (as my main dash) NO ANi Bios.
XBMC set to Digital output
Xbox is connected Via Componet Cables Directly to my TV (so I get L and R sound out of the TV speakers)
Optical is connected to my receiver - so I get full 5.2 surround sound (no mistakes made here yes 5.2)
I did not Try it on a regualr Xbox yet.
As for those of you with a 1GHZ Trusty Enabled Xbox - Please post your results.
As for my results. Every Game runs perfect. I have no slowdown at all - though if I enable the Frame Counter it slows everything down and I have to turn off then turn on the Xbox again. A Controller reboot does not work.
I GET NO SOUND AT ALL - Is this a Bug? The CPX3 Menu when first started (the FX) does work as I switch around in the options. Once I load a Rom I get no Sound at all - after unloading the rom I get no sound on the Emu Menu at all.
QUOTE
The Street Fighter 3 games run pretty well, with few slowdowns and frame drops. SF3 2nd impact would require twice the amount of ram to store the decrypted program roms due to having different encryption on program and data, so to make it fit in the XBOX RAM, the emulator decrypts the data plane on the fly (like the hardware does

) so in this game slowdowns are more likely.
UGH - with 128 meg of ram and a 1480+ Mhz processor - works really well - I saw no slowdown at all in any Game - the only game I don't have is JOJO's Alt. I cannot find the CHD.
QUOTE
Next to them are the jojo games, that sometimes need to copy big amounts of gfx data from disk to ram and have some framerate drop (specials, stand enter/exit).
The JOJO's that I played are fine. I would say compared to my PC (3ghz) these games run close to if not full frame rate on this Xbox.
QUOTE
The game with more slowdowns is Warzard, due to the abuse of zoom out (that requires the emulator to render more visible area), huge sprites and complex background graphics.
Only played this game for 5 mins but I didn't see any Hiccups.
QUOTE
The emulation of shadows is not accurate due to the way the original hardware works. Emulating it properly requires a lot of extra CPU power and the XBOX will not be capable of running the games at full framerate. They are currently just darkening the image under them, that is right for shadows but not for other effects, that's a price to pay for playability

I know this is probibly not the right place to ask - but why not try - I would love to see what kind of effect it has on the Dream X Hardware. If they could be emulated correctly and still run at full framerates on the DreamX Xbox or even a 1GHZ Trusty Xbox then might be a nice feature to include in the options or as a second XBE / CFG launch.
As for my settings inside the emu.
After fixing the screen positions.
MY games are set to run in USA mode (not Europe or Jap)
The Flicker filter is set to 0 not Auto
Biliniar Filtering enabled.
Frame Counter OFF
Sound Enabled and set to default of 39.
Interpolizing in the sound is set to enabled - though I tried Disabled and enither gave me sound.
Anyone else having sound issues?
Any other questions please post and I will try to answer them.
After 6 years of Xbox and all the cool emulators out there - this is truly a great present to the Xbox community. As CPS 3 is still even new to the PC community - to have this working on the Xbox and adding to the great homebrew library allready avalable - this Emu truly rounds out Xbox as great once stop emu machine.
I will post videos and Pictures soon if I have a chance.