If the porn on the internet were water molocules, you'd probably have enough to drown the population... of a really small country, like Belgium or New Zealand.
I tried this myself for kicks and it really does work and it is far more funny than in anyway erotic. When I saw the big red x's covering Lisa's nipples I burst out laughing. Though I swear the x's are more concealing than the Venus is.
I've got a feeling they'll be a gameshark code to allow them to play with nothing but x's on, but the perverts will still be dissapointed by the lack of 'true' nudity.
