There are a couple of things regarding the AGP port that no-one seems to have picked up on:
First, what is the signalling voltage used on the AGP port? Real AGP 1x/v1.0 ports use 3.3v, which is incompatible with most new video cards as they need 1.5v. (this is the opposite of the voltage issue that stops AGP 2x cards working in 8x slots).
Second, is it really an AGP port or just a 66MHz PCI bus slot modified with a AGP connector and some kludged logic to cope with AGP cards? If it is then AGP features like DMA, Sidebanding and FastWrites will not work, or will be shaky. Anyone who remembers the AGP problems on the old MVP3 and Aladdin 5 PC chipsets will know what kludged AGP port logic can do to a system's stability.
If both of these issues affect the Peg2's AGP port then it'll never run anything more advanced than a Voodoo 3 reliably :-(
I hope Genesi can offer some reassurance than the Peg2 can run AGP 4x and 8x cards. If they can (and if OS4 gets ported to it) I'd buy one like a shot. :-)