A Russian Developer iWert from iSoft team has used a x86 compatible emulator on the iPhone to get Windows 95 running on his iPhone 3G! As you can expect the performance was fairly low and booting Windows 95 took about 5 to 10 minutes.
They are trying to get Windows XP on the iPhone as well.
In the video below, we can see the hack demonstration on the actual iPhone and also within the Mac-based emulator on OS X.
Word of Caution: Its good to have your speakers turned off… Trust me!
The thought of running Windows 95 on my iPhone doesn’t really appeal to me that much. In the world of Windows 7 .. who wants 95 or even XP 😐 ?