According to this story on Kotaku,
they’ve dug out some information on something called ‘Trioxide’, that
will supposedly introduce "the ability to play the latest console games
(ie Xbox 360, PS3, Wii, etc) on your PC". While there’s no more
information out, this is most likely nothing more than a rumor for all
we know. After all, emulation has pretty much been dead since the
PlayStation days (all PlayStation 2 emulators pretty much sucked), so
to emulate the vastly different hardware in current generation consoles
using just software would be quite impossible, or an extremely messy
affair at best.
You’d know what I mean by ‘messy’ if you’ve dealt with Bleem! or any of
the other emulators back in the day, and not to mention all the legal
issues that they faced. Let’s wait and see what direction they’re going
in, for all you know, this ‘ability to play the latest console games on
your PC’ may not refer to emulation at all.