About having no use of a Pegasos like Wayne here said, have you looked into the new open workstation concept?
I sold both my Peg 1 and peg 2 because I had no use for an amiga emulator. I simply realised I had no interest in any 3rd party solutuion. MorpOs might be a usefull system some day, when it´s amiga ties doesn't hold it back anymore. That's a natural development, and I think it's clear that MorpOS is slowly leaving the amiga community. But today I agree with Wayne. It´s not usable in the real world.
But as a Linux box, peg 2 is really good. I'm going to order one (again!) for the sole purpose of using it as a low cost server suitable for a already hot enviroment. Supported by IBM and a large group of Linux users, I'd bet money that Pegasos will live on and prosper.
My review would be: Can´t see that I'd ever use MorpOs again, but the Pegasos II is really great!
