Chalk this one up as a novelty, because the usefulness is pretty low. HowToGeek (and by extension, an XDA forum member) have posted instructions for how to boot your PC into Android. The process isn’t too excruciatingly tricky if you’re willing to just burn the ISO to a CD, although if you opt to run Android from a USB key, you’re in for a slightly more involved process.
Once installed, things seem to work pretty normally – according to HTG, this includes cameras and Wi-Fi, depending on what you’re using. Also (and rather surprisingly), they had some minor issues with some effects (opening menus, etc) stuttering.
Can’t wait to see the Linpack scores posted from a Core i7 Extreme (“Your phone gets 45 MFLOPS? Cool – I get 512”). Hit up the source links for details – HowToGeek’s goes into more detail (using USB key), while XDA’s is more simple (just uses an ISO –> CD). If you try this out, be sure to let us know how it works.