Will Xbox2 Be Backward Compatible?

An anonymous reader submits "In an interview on Wired News, Bob Wiederhold, President and CEO of Transitive Corporation said QuickTransit will allow the Xbox Next (aka Xbox2, which will have a PowerPC CPU) to run first-generation Xbox games which were written for an x86 Intel chip. Transitive is a provider of software that enables transportability of applications across multiple processor and operating system pairs. This could mean Microsoft will after all make their next generation consoles backward compatible, unlike what was announced in June." I can't quite tell how hypothetically he's speaking; the no-performance-hit OS switching the article talks about sounds pretty hard to believe.