Mupen64GC si a port of the popular multi-OS N64 emulator, Mupen64, to the Nintendo Gamecube through the libOGC library. The emulator is planned to use dynamic recompilation of the N64 machine code to PowerPC (the Gamecube’s ISA) and full hardware accelerated graphics to (hopefully) achieve full-speed emulation.

http://code.google.com/p/mupen64gc/