Welcome and congrats on your purchase of the FPGA Arcade Replay board. I received mine from MikeJ just before the AmiWest 2011 Show and had it displayed for all to play with during the entire length of the show. It received a mild amount of interest, but that was only due to the many other Amiga things going on during the show and my lack of time to promote it more vigorously because I was busy with MorphOS, the Natami booklet, and the AROS 68k boot floppy, CD media packages.
The Replay is a great little board with lots of power and expandability for the future. MikeJ just announced that he will have more of his daughter board pcb's some time in January, so I am hoping to get one of those by the end of 1st Quarter of 2012. I have my 68060 CPU sitting here ready to install into it as soon as it arrives.
It is a great system with tons of potential at a very reasonable price. As for your excitement, you are not alone. I can hardly contain my excitement about getting a new First Contact AmigaOne X1000 system from A-Eon and AmigaKit some time in the next month.