Hardware hackers have developed a technique to hack Microsoft's Xbox 360 gaming console so that it might be possible to run alternative operating systems on the hardware.
The approach, which only works given physical access to the hardware and is strictly for fun, relies on a taking advantage of a vulnerability in the Xbox 360 hypervisor. Properly exploited, the bug allows tinkerers to run arbitrary code (even an alternative OS) with full privileges and full hardware access. More at Source