Bernie Meyer, Amithlon's author, has put out several patches for Amithlon. The update package on Aminet is just these patches collected together and wrapped up in an installer for convenience.
It's likely these represent the last patches that will ever be released for Amithlon.
The modified Linux kernel that Amithlon sits on top of is GPL so anyone can hack about with that if they want to, although at present I seem to be the only one actually doing any work on it. (kernel hacking is even harder than it sounds)
So, hardware support will continue to improve for a while but the emulator itself won't.
