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Here's an interesting tidbit:

http://ps3.ign.com/articles/966/966706p1.html

The article notes that PEGI and the ESRB have both recently tagged Call of Duty 1 (a PC game from ~2003) as being on the 360 and PS3...  Lets face it, both console have near-identical 3.2 GHz main processors, if you exclude the "rest" of the cores, and graphics chipsets with near-clones on the PC from 2005/2006.  256MB VRAM was mostly unheard of in 2003, or earlier, and 1.7/1.4 GHz Intel/AMD processors (which were much slower, per clock, than the PowerPC cores in the PS360 are) were pretty much the high end in PC-land.  If a company could build a low-level emulator...

Note how Nintendo recently added C64 emulation to their setup -- wouldn't it be something if MS and Sony added older PC emulation to their own consoles? Think of all the games, and how mad Valve will get, with the Steam competition. ;)