Earlier quoted context omitted.
Why is static pointless and why is dynamic better? If emulating a newer game console, couldn't you get better performance by running a statically recompiled game, since it doesn't have to do the extra work at runtime? Or better yet, couldn't you cross-recompile a game to run it on a platform that couldn't normally handle emulation of the target platform?
You can't: as long as you have self mutating code (including loading more code in memory from another place), static recompiling is simply not possible. It's not a matter of being "better", it's the only solution. As video game consoles start looking more and more like PCs, self mutating code starts to be less frequent and more easily detectable. On the Nintendo 3DS for example, only the OS can allocate executable pa…
You likely can't handle the general case, but that's a lot less critical. Especially for old consoles or computers where the pool of software with too complex cases that can't easily be handled with generic analysis is small enough that you can reasonably add special cases for most stuff you care about.