yes, it's surely esasier to simply emulate, just see how Corn was! But in fact, insead to programm "On code#XX, Do YYY", you said "On code#XXX", Replace XXX by YYY". Okay, it's a bit more complicated.
Fthe speed, if a "normal" emulator isn't faster than a recompiled file, why is an interpreter slower than a dynamic recompiler slower than a static recompiler ? If you interpret the code, you lose speed while interpreting, if you periodically recompile some parts of the code, you lose speed at each recompilation. With the static recompiler system, no problem : one recompilation, and after... just play !
thanks to anyone who said that some people have already made recompilers, I will try to found them (the recompilers

).