[...]using the PearPC code, as it's supposed to be 40% slower than the host CPU.
This can be achieved when you don't need to emulate the CPU [...]
This makes sense... Like I said, the video and IO portion seems to work fairly quickly. So, an unsupported PowerPC platform can run OSX at 40% slower than a real Mac of the same clock runs it. That's good to know. So, an A1 or Pegasos could use this and get quite a usable Mac emulation. (Usable is a word I've never heard MoL described as. I can't pass judgement on it myself, though, as I don't have a fast enough PPC to try it.)
But, back to PearPC.... If you use the processor emulation, you certainly get no where near losing only 40%. In fact, I don't think a PPC emulation is even possible to that tight of performance... I mean, think about it. That's a lot tighter than any 680x0 emulation routines, and how much simpler of a processor is the 680x0 compared to a G3....
Anyhow, I had only read the x86 docs on PearPC, which was why I questioned the origins of that 40% figure. ;-)