I think what is needed, first off, is simply a bootstrap ROM that POSTs the Hardware, gets the hardware to a known state and starts the AROS Exec.library up and running...
jdiffend, do you think you could get that far?
Once we get to that point, we should be able to use parts of the original OS to test how compatible the AROS exec and Bootstrap is with the original system.
Once that is done, an IDE driver will be needed to load the rest of the OS :-)
As for an Amiga hardware graphics.library, well that is going to be a headache, and one could probably ignore (send any debug info to the serial) it and use Cybergfx/picasso96 natively instead... at least until someone bothers to write a new graphics.library... though AROS is better suited to Amiga's with Gfxboards anyway. AROS intuition and layers libraries were written to work with a cybergfx interface anyway :-D