A new and exciting video was released today by Team DFT. According to the video description, Windows Mobile 6.1 is shown running on a HTC Gold. It appears to be an emulator of some kind which runs Windows Mobile 6.1 on top of Windows Phone 7. In the video, Team DFT claims to even be working on WM 6.5 version! It currently looks to be using virtual buttons to imitate hardware buttons. Check it out..
Thanks to lando84 for the tip!
[DFT] Windows Mobile Project Preview