CXBXEmulator is by no means perfect, it is very likely that you will Run in to some issues with Graphical or other bugs, we are consistently trying to improve our Xbox 360 Emulator, but we have only a few developers devoted to this project, because we don`t get paid for this project, we are doing it for research and our personal Learning.
Xbox 360 Emulating is hard because of it`s architecture, it would be way easier to make Xbox one emulator as it is x86, but Xbox 360 processor is based on IBM PowerPC instruction set architecture. Witch is a lot harder to emulate inside x86 environment. It takes way more processing power just to emulate instructions. There have been other successful xbox 360 emulators in the past, but almost all of them are outdated and can only run Xbox Arcade games. By nature of emulation you need very powerful hardware to run Games that were made for way less powerful hardware, that`s why Good Emulators come years after release of gaming consoles.
Some of the reasons why you would need this emulator is, since 54.2% of xbox`s got RROD ( Red Ring of death) you might have a bricked xbox 360 and collection of games laying around that you can not play any more. Well now you can connect your xbox 360 controller to PC load Emulator, insert DVD and Run your favorite games without a fear that it would get RROD. Some games will even have smoother framerate than you would have it running on console. You can also try out Console exclusive game titles that you have never played, because you didn`t own a xbox 360!