Coldfire isn't code compatible asfair.
Coldfire has a 68K at it's core and is about 99.8% instruction set compatible with say a 68020 when also using the free developer 68Klib library. Carefully written source would compile and run on either. However, the remaining incompatible instuctions would be a chore to trap and redirect. Also trying to tie a Coldfire into a classic chip set (or emulated chip set) will have it's challenges when working out the differences in the I/O's and timing issues between a Coldfire and 68K. If I recall the V2 coldfire is the most I/O compatible and has a top speed of 33mhz.
Tough, but not impossible. Who want's to help me work it out? :-)
Plaz