Yes, I use Android on x86 every day on my Lenovo Yoga 2 Pro tablet. That said, sometimes Apps get bent by the underlying architecture difference. The only one that really hurt was 1Password but the folks at Agilebits fixed that reasonably quickly. There seems to be some additional "optimizing" stages in installs which has me suspecting they do an ARM->x86 translation for some binaries but I haven't had time to dig deeper.
