Huge leap forward in N64 emulation?

Joystiq tipster, Kamalot, has the latest on N64 emulation developments:

"Emulation of the Nintnedo 64 has just taken a huge leap forward. 4 Color Rebellion is reporting that you can now replace textures in emulated N64 games with high-resolution versions. Using the technique, not only is it possible to replace existing textures with higher quality one, it is also possible to re-skin an entire game to give it a new look. Expect to see high-res texture packs for your favorite games."

That moon sure is purdy...