After the preliminary work here (which I recommend you read through), the porting of Ice Cream Sandwich to PC has advanced a lot further, and we now have a starting installation guide (the first available). There is now a furthered port to 4.0.3 ICS, which you can see a demonstration of here:
There has also been an installation tutorial released which you can use to install Android on your own system, which you can see below:
Step 1. First of all, you need to download one of the required installation images from here.
Step 2. Burn the image to a disc or flash it to a USB, then reboot your machine and boot from your selected media.
Step 3. You’ll be greeted with a boot menu, and at this point you can hit install if you’re ready.
Step 4. Once the installer appears, you’ll be asked where to install Android to. Select the partition or drive you wish to install to and press Enter.
Step 5. You’ll then be asked if you wish to format the partition, and given different options of formatting. Choose the partition format you wish to use, if any.
Step 6. Once the partition has been formatted, you’re given the option to install a bootloader. Press yes to install one.
Step 7. You can then choose whether to make the /system directory writeable. Press yes, as long as you don’t mind a slightly longer installation time.
Step 8. Now you need to install a fake SD card. What this does is create a separate image which is recognised as the SD card inserted into your Android device. Select this option and press Enter.
Step 9. You can then select the amount of memory you wish to give to your SD card. Press Enter and your SD card will begin to install. This may take a little while.
Step 10. Once the SD card is installed, just reboot your system and boot from the drive/partition/usb you installed Android to and your Android system should be up and running!
[via Soul Dev Team]