After couple of help from Joshkaz we found out that load times between Xemu ( Original Xbox Emulator ) vs 360 looked about the exact same.
I have made research about 360 and found out that backward compatibility is inherently emulation which was achieved using software emulation.
Genma Onimusha is one of the supported original Xbox games which will run with an emulation profile that has been recompiled for the game with the emulation profiles stored on the console's hard drive. Meaning, when you put the disk in it checks the title ID against the database of compatible original xbox games that BC supports.
Xemu presents an environment that more closely matches the original console. It also seemed to emulates load times same as the real hardware.
Therefore, we are going to allow emulator runs for this game. Please check the game rules regarding the runs submission. At this time, we want to make the game as accessible as possible providing good experience with the run. We will also not be separating emulator vs console category.
Thanks for reading, and happy running!