QUOTE(gordita37 @ Jul 17 2006, 05:08 PM)

that has nothing to do it
Thats exactly right. So what if the Xbox is 10 times faster in CPU speed then the PS2. When you emulate something you suck up resources to not only emulate the CPU but the Graphics card, and all other hardware in the machine.
Then to get it to run stable with smooth FPS needs tons of code optimization.
So basically if you wanted a PS2 emulator you would need the 360 to be about 50x faster, and a team of dedicated coders, coding a machine thats hardware isn't all that well known taking probably a year or so.