Surprisingly the Xbox 360 hasn’t seen a lot of homebrew action. [tmbinc] has taken it upon himself to port the Snes9x emulator to it. There’s no pretty GUI, and its not running on top of linux or anything. This is native, directly to the hardware emulation. He believes this is the first to do so. Unfortunately, it will not work on the most up to date Xbox 360s.
[thanks xb0xguru]