I think the nearest is CXBX emulator, it translates an XBOX .BIN exacutable into a .EXE one. Makes sense, because an XBOX it's basically a PC with custom graphic card and inputs.
If I'm not wrong DRC only compiles some instructions, as many as its dictionary lets it compile, so emulation gains performance. What he describes is a translator, a program which converts say Z80 instructions into a binary working exclusively under a specific platform (i.e. x86 instructions under Windows). That could have been feasible on the DOS days, but today with assembly language being technically obsolete unless you program micro controllers, it's unmaintainable and useless.
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Re: Emulator: Interpreter vs. Compiler?
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Re: It's called "static recompiler"
