Running Mac OS X on non-Apple hardware

Yesterday, a friend of mine mentioned his friend installing Mac OS X on non-Apple hardware and after a week of using it, ending up getting a Mac. Whilst this clearly violates the Mac OS X EULA but if you are in education, I think (don't quote me) you can hide behind Fair Use.
So how do you install Mac OS X on non-Apple hardware without hacking? Lifehacker just featured the how-to a few days ago and if I did not have a Mac, I would have tried it just to have a feel of what I am missing or what I am NOT missing.
Just a disclaimer – this clearly violates the Mac OS X EULA but as an academic exercise, you may want to try it out… just like what another professor friend did a few weeks ago.
See full article.
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