No Windows, and other issues...
My take on it...
First of all this QuickTransit isn't a full emulator, because apart from the CPU nothing is emulated. This of course means that no operating systems can be run, just applications for other operating systems.
QuickTransit has an API-mapper, which basically translates API calls from foreign applications to system calls of the native operating system.
This also means that Windows applications will NOT run:
"QuickTransit supports operating system mapping between any two Unix/Linux-like operating systems, as well as mapping between mainframe and any Unix/Linux-like operating systems."
http://www.transitive.com/technology.htm
Yes, it would be possible to do the same for the Windows API, because it's already been done in WINE. But it remains to be seen if a firm actually wants to go that way, since it's not too good to deal with partly documented API and probably even get in the way of Microsoft.
Now some comments on the Wired News article...
"In demonstrations to press and analysts, the company has shown a graphically demanding game -- a Linux version of Quake III -- running on an Apple PowerBook."
Erm, it would be really interesting which Linux Q3 was compiled for and what operating system the Powerbook ran, because running a Linux/PPC version of Q3 on Linux/PPC would be hardly impressive...
"QuickTransit fully supports accelerated 3-D graphics"
Well, probably everything in OpenGL, because translating Direct3D to OpenGL would be quite a feat...
"and about 80 percent computational performance on the main processor."
Somehow I doubt that. Even if you manage to have an almost 1:1 ratio for computation instructions, memory accesses will kill that ratio big time. That's the reason why dynamic recompilers aren't not as fast as they might be.
"One of the key breakthroughs is an "intermediate representation," a kind of lingua franca that gives the software the flexibility to translate from one platform to another."
I'd be really interested in that one, because I once analysed basically dozens of processor architecture trying to come up with just such a thing. After several months I dropped the idea, because it's just not practical. Even some of the most basic stuff (eg. integer division) is so diverse that you either have to include every possible implementation or have it represented in very simple steps.
In the first case the intermediate representation becomes a real monster that no one is willing to write a backend for another architecture, and in the second case the code quality will be really bad.
"Unlike most other emulators, QuickTransit translates blocks of code rather than a line at a time. In addition, it identifies and stores the most commonly executed code."
Oh, maybe they should tell that to Eric Traut, who did the dynamic recompiler in Apple's 68K emulator, the one in Virtual PC, and in Virtual Gamestation for Mac and PC...
Frankly, I'll believe it when I see it.
API mapping isn't new, it has been done in lxrun and WINE. The new thing here is the dynamic binary translator that according to them is using a general intermediate representation. And with the little experience I have I'd guess the 80% performance aren't achievable, especially not with that approach.
It would be a nice surprise to be proven wrong, we'll see...