I realize this has been asked before and will probably be asked again, but is it possible.
I have done searches, and found nothing more recent than threads from 2009.
Everyone always says: at the moment no, but maybe with the next iphone...
Now we have iPhone 4g, fastest yet. I just want to know,not if there is an emulator, but is this theoretically possible?

Yes or no will do.

and please, no disparaging comments, I'm just wondering.