This would not be a good idea in general because Phoenix has the 64 bit integer MUL*.L and DIV*.
Interesting as I have tried a few demos that will not run without an 060 and wont continue and will produce an error asking for an 060.
Will hold on to my 060 for now if there is no work around. Which is a shame as the 020 core could be a lot faster than my 80MHz 060.