Can Windows Phone OS be installed on a desktop hardware (x86 or x64 processor) natively (without a layer of virtualization / emulation), or can it be natively in a VM (VMware or virtual BOX), virtual machine without SDK emulator? (meaning that Windows Phone OS, itself is guest OS running in VMware or Virtual PC, without installing an emulator or an SDK, I already saw examples where the SDK+emulator can be installed and run in a VM but that's not what I'm asking about, it would have a total of two layers of virtualization/emulation which would have significant toll on performance .. I'm not concerned about debuggability...Can it be run directly in a VM, or better yet, on the physical desktop hardware). Has it ever been done?
In theory, (regardless of whether or not it violates the MS Terms) is it possible in theory to modify/"hack" a propitiatory ROM image to allow that?