>Wouldn't this be possible with an actual Amiga?
Yes. But you do not have save states on a real amiga.
. Besides I bought the X-Box, as a Media Player, because I had 10 meters of cable running through my living room from my computer, (for DivX, etc.) and I realised that there was an Amiga Emulator for it. So I use an X-Box to play Amiga games.