Yes, I have read the stickies, and other long tedious posts filled with criticism.

It would be amusing to see a full Windows boot on the Xbox, and there doesn't seem to be that much to do tbh: poke the kernel/HAL/etc to not touch the bits of the address space and PCI bus that kill the machine, and then write a couple of drivers (graphics, mostly, much of the rest of the hardware should be supported). The latter is pretty easy; the Linux port's drivers are there as a reference for how to program the hardware.
Is anyone seriously looking at fixing the kernel/HAL to avoid the hardware bugs? It's only a couple of megs of code, with full symbolic information available...
I'd do it myself but I have access to, and have spent a lot of time working with, the Windows source (legally under signed NDA) and thus it's extremely dubious for me to reverse-engineer the Windows kernel - I am 'tainted' and would get the project in legal difficulties =(
If the fixes to the existing binaries are done I'd be interested to help write the few required drivers, which would not be subject to such restrictions..