Wrong, if the EULA holds up in court. To re-quote Apple's single-user EULA for OS X:
Let's make this clear. If the EULA holds as legal you MAY NOT:
1. Enable the use of OS X on non-Apple hardware through hacks.
2. Install OS X on any computer that isn't a Mac (in other words, an Apple-branded and manufactured computer.)
This technically makes hackintoshes 100% illegal. Now, I think Apple recognizes the futility of trying to enforce this among hobbyists, and is likely willing to ignore such infractions as long as it stays DIY. What the EULA is designed to do (in part) is to prevent OS X from being used in conjunction with PC hardware to create an unauthorized clone...like the OpenMac.
Even if the EULA doesn't hold up (though I think it will, I believe that the court will rule that Psystar is unlawfully trading on Apple's intellectual property, as IJ Reilly has said.