Emulation doesn't really mean anything since it is an official Sony emulator. But as it turns out, all PSN products must work on all regions. Apparently this is a specification for releases.
Thats a paradox: it wouldnt have bombed had konami made a decent port, and now they wont make another port off the fear from bombing again. Anyway, porting MGS3 to the X360 should be easier than porting MGS4, and if that one does good in retail konami could port the sequel.
if they ported MGS4 to the X360, they would have to change quite a bit of content. There's tons of reference to Playstations, memory cards, the PS3 controller, and such. after playing the game some and seeing all this, my doubts of a port have greatly increased. i don't think it's going to a happen. at all.
I know I know, but still MGS3 on the X360 would be great IMO. And Snatcher had references to the SEGACD, yet konami fixed those in later versions...