What's so significant about this you may ask? Posting on Hackaday.com, tmbc explains:
"Well, to understand why this is such a “big deal”, you have to understand that a lot of people apparently don’t believe in free software (as in speed) as much as in “free” software (as in beer; but really, it would more be stolen beer), and rather want to see the Xbox Development Kit coming to a hacked xbox360.
I believe hat this is the wrong way for several reasons: First of, acquiring and using the XDK software is illegal, as well as all produced binaries. This has been a major problem on the original Xbox homebrew scene, where most scene releases were “illegal” because they contained XDK code. Most people don’t seem to believe that xbox software development can be done without Microsoft’s support, and my snes9x port (it could really be any other program as well) is basically the proof that it can be done.
So the real thing here is libxenon, a free library with xbox 360 hardware support. Snes9x is just a random app which was ported to that library. I did the video because people were bitching “it will take ages until we see real homebrew”. Well, it did not."
Technical information can be found here