The A1200 on a PCI card was dropped because:
a) AmigaInc or whoever was owner of the Amiga IP at the time would not or could not secure an order of custom chipsets for this product.
b) A mass produced ATX motherboard with reliable Amiga emulation would effectively cost LESS than a small production run A1200-on-a-PCI-card.
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(Brainstorming here.. )
You know, a new Amiga-like system with Custom chipset (3D graphics & surround sound audio, etc) on board is not impossible (just look at Sony Playstation I & II), its just that few companies have the money or the ability to take the risk. Of course, we would like to have existing chipset developers who want to be a part of a project like this to be welcome AND included. :-D
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So far, Microsoft PocketPC (running windowsCE) is currently the only platform that Amiga-Anywhere (formerly known as AmigaDE) is available on . I have no idea if AmigaInc have signed an exclusive deal with Microsoft or not.