I love these posts!
First off, you'll need a new PSU. Either try
www.powerc.com (in the UK) or you could possibly build your own PSU from a AT type PC power unit. Wiring instructions are available on the Aminet but come with no guarantees :-D
The stock PSU is pretty weedy and goes pop if asked to supply too much juice. There's no point in getting accelerators etc is the PSU won't run them!
Next you'll need an accelerator board. The best bet is a 68060 board with a single simm socket as this won't need extra cooling and will still fit in the case. Make sure it comes with a MMU and FPU. Try also to get hold of one that supports a 64 Meg SIMM - i.e. Blizzard. I think Power Computing also do a Viper accelerator that supports a 64 Meg SIMM.
You can fit PPC accelerators that go up to 240Mhz, but these require special cooling that the stock A1200's case cannot accomodate. Some users complain of reliability issues with certain PPC cards..... If you want to lost the case and remount into a tower then you've got access to PCI and drivers for the 3DFX Voodoo range, 10/100 Ethernet, Soundblaster 128 and TV cards.
Next up is the IDE buffer or Power Flyer which you'll need to support more than one IDE drive. If you go for the Power Flyer then take the opportunity of sourcing 3.1 ROMS if not already fitted (kickstart 40.xx) as the PowerFlyer sits on your ROM headers.
Still want more? There's a huge range of things out there, from soundcards to SCSI all waiting for someone with money and patience!