As they use to say, it was just bound to happen. Although many have said that it would not be possible, deep down in my heart I knew that one day some clever hack would make running OS X on a typical x86 machine possible. And so it has happened.
All in all, it does not appear to be a hoax as the installation instruction is very detailed.
The only downside is that it requires a pretty decent CPU to run (smoothly) and a helluva lot of disk space to install. That means no fun for me (yet!). But still, it’s a small step of one man and a big step for all humanity. Job well done!
UPDATE: Wired has more info about OSx86.
Thx Clint for the link!