I'm aware of that. Emulating a completely different platform(that's as complex as PPC) would grind down performance to the point of chuckling, pointing and laughing at the cute sideshow.
Chances are Apple already has beta OS/software that runs on x86. 2006 is the launch date. Think longhorn.
Eventually Apple will release to OS for non-Mac hardware. Then we will find out that 98% of PC instability is due to drivers.
Apple seems to insist on doing the same mistake over and over... and expecting different results.
(Closed system and price).
I'll bet Apple has OS/X for Intel already built, tested and ready to release. They've probably been maintaining an Intel version of the OS all along, ever since the NeXTStep purchase. They were just waiting for the right moment to switch.