Last time I checked PSX wasn't even emulated too well, nor was Dreamcast, Saturn, or most any other CD based system. For one, you have to do more than just run the software, you have to simulate the hardware. Just swapping the drive will do nothing. Sure, I wouldn't be suprised if you COULD use it in your computer, but it's just a standard DVD-ROM...
As I tell people, for the NES, you needed something like a Pentium 75. N64 is around a P4 level. PS2 is probably still out of most computer's capabilities.
Now Xbox runs on more standard hardware, from what I hear, and should be availible sooner as you COULD just load the OS...eh, from what I've herad at least, but my newest console is a dreamcast, so what do I know