So what do you think?
Not that this is a great invention; as it has already been done before on other phones(e.g. Mac OS or Windows 95 on N800 on the Maemo platform) using emulators; but it is nice to know that it is indeed possible.
They are using the open-source Bochs emulator to achieve their purpose. Of course, one would need a jail-broken iPhone for this.
And.. I should also say that the boot-time of the operating system itself takes about 5-10 minutes. So, while it is possible to install a more modern operating system, the boot-time or running an application on it etc. would take just too much time to be usable. I’ve also heard that the DosBOX emulator runs Windows 95 much faster compared to Bochs.