I'm honestly a bit worried about Xbox preservation in the future, it seems to be a perfect storm of frustrating hardware (although I didn't know that its similarities to PC actually made it harder to emulate!) and lack of interest. The last I checked there were only one or two people working on the most promising Xbox emulator, and one of them had gotten a job that took them away from doing much work. It would probably be a far different story if the original Halos weren't ever ported to PC, but a lot of the remaining exclusives are relatively niche, even if those "niche" games are well worth the effort. I remember seeing someone else on some emulation forum break down that only two or so million-selling original Xbox games were true exclusives, so there's less clamoring for something to get done. Panzer Dragoon Orta, Phantom Dust, Otogi - these are the kind of "cult classics" that never quite got the attention they deserved when they first came out. They're the kinds of games that we love to discover, but there's a worry that they don't seem a pressing enough need to attract the kind of enormously talented, dedicated programmers that are necessary to get emulation running for such an evidently complex console. There's that fear that the time where it would have gotten the most attention has already passed.
It's a real shame because not only do many of those games stuck on the original Xbox look fascinating (I'd die for a chance at Jet Set Radio Future in particular) but it also has the best version of many multi-platform games by most accounts. The thing that still makes me hold out hope is that surely some enterprising programmer or programmers will see the ongoing lack of an Xbox emulator as a challenge. The Mednafen Saturn core is a great example - though there has been at least some emulation of Saturn for a while, though often limited and overly complicated. Still, if the Sega Saturn - a console that sold fifteen million less units than the original Xbox, had notoriously complex and haphazard hardware and with a good percentage of the best of the library being ports of arcade games easily emulatable elsewhere - can get a good emulator, why not the Xbox? All it takes is a few people with passion, talent and opportunity to get something going.