So how does 360 emulation on One work?

[Netty]

drkohler said:

captain carot said:
Every game and actually a basic OS are recompiled from PPC to x86 as it seems.

No and no.

MS does not have the source code of the original game (except if they made it). Hence there is no way they can recompile stuff.

They can recompile the original PPC machine code to corresponding X86 machine code. If this is what they are doing (likely) then it would explain why a few titles suffer from slowdown since translating code in this way often results in suboptimal code for the target architecture.