that's been done as well, damn why can you never find a link on google when you need it.
There is a company that's managed to get a 14 foot by 8 foot HD screen projected directly into your eye.
I think the cost is high though.
The XBOX 360 isn't actually that powerful a machine when you look at it now, it's old. Many of you will have desktop machines with far more horse power than an xbox.
If OpenGLES had been designed properly, we already would be very close to being able to recreate xbox quality on mobile devices.
Having said that, I much prefer playing games on a console. It just "feels" better, and having a proper controller makes a huge difference
A Chinese TV manufacturer I am working with has noticed this and is working on a range of TV's that will come with game controllers.