OS X on x86 - a threat to Microsoft?

The one thing that hasn't been discussed since Steve Jobs announced availability of Mac OS X for x86 as early as 2006 is -How does Microsoft perceive this transition?

My first thoughts were 'whoo! real competition on x86!' but then Steve said it would only be supported on Apple certified x86 hardware (don't Microsoft say the same thing?). Which means it may not be available to buy and install on your home-built PC or a Dell, (for example) thats shipped with Windows XP.

We all know that sooner or later a version will surface that does work on all (if not most) x86 configurations, courtesy of the cracking scene, who are already doing overtime to release a leaked console version on BitTorrent. I've been following a topic here at Neowin (which has since been seriously moderated) that showed examples of the console working on a x86 PC. True or fake, it's inevitable.. it will happen and what does Microsoft think about it?

View: Microsoft stuff for Macs