yes, this has been mentioned several times, and if by "progressing very nicely" you mean, "will be available to run some commercial games half-way normal at a below average frame rate on a crazy power pc with a crazy video card by mid-late 2004...MAYBE" then yes. Still has a long way to go is my point, they are doing great work, all the hard work too. And props to them for doing such good work, im sure its not easy, but any people waiting and hoping to see anything worthwhile ps2 emu related on the xbox scene should quickly be reminded that it wont happen.