Definitely not. The best way to play Shadow of the Colossus in HD is PCSX2. It supports way better resolutions then the original console and you can even attain full FPS the whole game (provided your PC is fast enough), something that was impossible even with the original hardware as SotC sometimes got down to 18FPS on the PS2. Also whenever you have a question please post in the General Discussion or Game Discussion area.
Hmmm may have some exciting news for you fuckmybox. Check out this link: http://www.computerandvideogames.com/article.php?id=264192. Though you may have to get a PS3.
Hahahaha, I don't think a PS2 emulator for the X360 has been developed yet. Possible? I'm pretty sure, though I doubt it'll be that great, it's possible I'm sure.