I am eager to see how this will perform. Even dolphin requires a lot of cpu power while it is "only" emulating the Wii (and GC, of course).
x360 is way more powerful than a Wii so I guess it will take some years to get reasonable speeds out of it.
That said MS is able (most probably with bought technique) to deliver quite good emulation speed of a 360 on the Xbone - a system which I wouldn't expect to be able to produce reasonable speed emulating a Wii (ie. when running dolphin on an Xbone).
On Eurogamer there was speculation that they had allocated each one of the 6 cpu threads that the original 360 had, each to a use a separate cores on the Xbone. I don't know if the information exists outside of MS that would allow that on this emulator. It would be absolutely awesome if MS saw fit to port this to the PC, so you could run 360 games with live access through windows. However I think that's about as likely as pigs flying lol