Yes. The firmware (BIOS) of the Xbox is a heavily modified version of Windows 2000. There is no operating system on the hard drive, though, just game data and files necessary to display the dashboard..
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It would be possible as a Xbox 360 and other Gaming Consoles are basically computers with a different operating system. But too turn your computer into a Xbox 360 would be very hard.
The guide button can be known as the middle button on the controller. This will take you to the Xbox 360's operating system section where you can see whos online, message's and many more.
Xbox 360 is not compatible with xfat formatted hard drives. In order to use the hard drive, it will need to be reformatted. If you are unable to do this with the operating system that you have, you can download a third party format tool which will do the job.
The Xbox One
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