Have done it a couple of times myself. I even setup an amazing WinUAE box with two competition pros and modded it so it booted straight into OS 3.9. Was an amazing machine couldn't tell the difference from real hardware and it was very very fast. Scored the PC for free so it only really cost the two USB competition pros and some time to set it up.
But in the end I missed the Amiga soul I guess and fiddling with hardware trying to fit in a desktop case LOL.
Going to try and hold on to at least my 1200, it's the best Amiga I've ever owned. But I will need to sell my modded 500 soon :-(