We've been talking on discord and found this emulator has been remarkably accurate. There are some minor texture issues and shader compilation stutters but overall, the game is extremely playable to the point that it's almost on par with the xbox 360 version.
In terms of graphical fidelity, it's quite close to xbox series quality with the increased 3d resolution. Though the emulator is very cpu heavy, especially with OBS using x264 software encoding. GPU wise, my old potato RTX 2070 Super had no problem.
After a lot of discussion, we've chosen to have a vote on if Xemu should be allowed for runs and it is. The NG speedrun crew is a small bunch so we're pretty open to getting more people in on the game.
I know this is an old post but for anybody that might be thinking of learning the run, I did my first run on the emulator and the performance is not perfect but it is close to that, if you're in doubt give it a try! It is a fun run