Yes, there's loads of documentation on how the x86 processor works, but that doesn't exactly make it easy. I don't know where this mindless assumption comes from. Emulating an x86 CPU is a lot harder than it sounds. Take a look at the source code from bochs. Is a PC easy to emulate? Well, I wouldn't say so myself.
Xbox's hardware is very complex and still poorly documented to this day. Yes, we've all heard this silly and pointless argument a million times and it usually ends in the same, and rather ignorant conclusion (or should I say assumption) that just because the Xbox is PC similar, it's hardware should be relatively easy to emulate. 'Xbox is just like a PC, it's easy to emulate!'