The EMU might compile fine on OpenBSD if it had the required ports available - namely linuxthreads and gcc 3.2+. However, it's probably easier to get it running on FreeBSD 5.x, as it comes with the necessary GCC in the initial install.
There are some threads in the development forum about the process of getting things running, although I'm not sure if the devs committed my fixes and readme which talks about getting things running on FreeBSD, so you might need to patch by hand.
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