Dunno if this sais anything... I run netscape on my P166 noMMX/64Mb EDO and it works like a charm. Speed vs IE is not notisable slower to me.
I don't see the problem with a port of it to the Amiga, I'm sure it can handle it, after all, it has super efficient AmigaOS and as I understand it it's not a 100% port which meens inefficient code can be scrapped. :-D