Emualting a system's always possible, DRM excluded - that's what makes a computer different to any other machine - it's a general purpose machine. Only question is how difficult it is to reverse engineer the thing (not applicable for Sony/MS), and how much extra power and reduced latency you need to make up for differences in design. To be, if Sony were planning this move, they could have done a lot more to make it easy IMO, but then I didn't know that Sony were testing software to check it only accesses the hardware via their APIs.|
I'm also not aware of Sony's PS2 emulator. I'm sure they have one in house, but I didn't think they'd announced anything regarding the PS4. And I've not been following Gaikai at all, but assuming it's anything like Onlive, that's effectively a black box system, and you've no idea what actual hardware is at the other end.
Cubby didn't know how to turn off sigs!