I've spent four hours playing Rage today via the Xbox Series backwards compatibility. (Is it emulation or real hardware?)
Anyway, for an Xbox360 game I think this looks really good and still holds up today. The speedy loading times certainly help as well.
I did try and play a while ago on the PS3. I don't know if Rage was pushing the PS3 to the limit, but as you turned around, you would catch models and textures loading in. Apparently you could alleviate this a bit by installing an SSD but you're still limited by the PS3's older SATA connection.
Having played this on my Series X, I don't know if the Xbox Series is almost void of this because of the modern hardware or if the Xbox360 version was actually the better machine with this game engine.
I completed Rage 2 a year or so ago when it was given away free on the Epic Game Store and loved it. The original game is essentially the same but on a much smaller scale. It's a balanced gameplay of driving and FPSs sections.
I LOL'd on my first encounter when I've if the bad guys shouted, "Where's that wanker!" ๐
I'm not 100 % sure how it exactly works, but I think Microsoft recompiles/translates the games and you then download the changed binary instead of playing off your disc (which is also why texture streaming should be a lot faster).
This is most likely a process that's automated for the most part though. And I highly doubt it's recompiled from source, that's why I called it "translated".