Hey there. Haven't posted in the Xbox forums in a while, but here's what I can tell you. Sorry if I didn't make these clear from the beginning...
1. Smashing Drive only works on my source branch. I've been meaning to update it, but keep forgetting because I'm usually really busy IRL, sorry

So the latest branch of mine (shogun3d) is not the latest one.
2. Only the NTSC version's compatibility has been confirmed, so I can't garuntee that the PAL version will work (assuming that's the version you have).
3. In order to actually run the game, you'll need a copy of OllyDbg. You can find that on google. Place a copy of the Cxbx.dll in the same directory of the .exe Cxbx generates. Open OllyDbg and make sure exceptions are passed on to Cxbx by changing them in the debugging options @ the exception tab. Before running you'll have to patch the function D3D::SwapStart (XRef), fill it with NOP instructions (except for the RET instruction at the bottom). I need to write code that actually intercepts that function and emulates the function called by it (I was being lazy). Open the .exe file generated by Cxbx and run Smashing Drive. Be warned that it will run very slowly. I only get 2fps max ingame.
4. One more thing, Cxbx does not run games from .iso format. You need to extract the contents from the .iso and open the .xbe file with Cxbx.
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[Sagat] Windows XP x64 Pro | AMD Athlon 3000+ (~2.0GHz) | NVIDIA GeForce 6600 PCI-E | Realtek AC97 Audio | 512MB Ram | NVIDIA NForce 4-4X chipset | Seagate HDD 160GB | LG 8614 DVD-ROM | HP DVD 1040d CD/DVD -/+ RW w/ LightScribe
[Raylene] HP dv2000 | Windows Vista Home Premium | Intel Core2 Duo @2.2GHz | NVIDIA GeForce 8400 GS 128Mb (Dedicated) + 1264Mb (Shared) | 3GB Ram | 220GB HDD
GeneralEmu - December 27, 2005 and beyond!
Shogun3D Interactive (I try to update it every day now)
Shogun's Cxbx Dev Blog