That's the idea. :-) And not only one of the most compatible "Amigas", but also of the most "compatible" with different hardware platforms:
If it gets done, we will be able to run some (hopefully a lot) of our MorphOS apps on all the PPC Linux capable machines, i.e. almost all Macs, Windows/x86-Linux with QEmu, and maybe even the upcoming NG consoles (Sony has announced, IIRC, that it will ship the PS3 with Linux).