Mac Gaming: Xbox 360 and PS3 Emulators?

This is total conjecture; however, has any one else out there noticed that both the XBox 360 and the PS3 are running on G5 / PowerPC based* chips? There is also already speculation about Xbox 360 compatibility with the iPod and I think I read similar reports about the PS3, although I cannot now find the link.

So, the question is: with these similarities in architecture, could we see some nice hacks that squeeze OS X onto these two gaming boxes, or better yet, could we see some PS3 and Xbox 360 emulators for OS X coming out down the road? Discuss.

*added for clarification of my rantings.
 

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