There should be a Sega Dreamcast Emulator running on X86 Windows floating somewhere in the WWW. I haven’t tested the performance of the said emulator. Sega Dreamcast is powered by Windows CE 2.x with DirectX 6 class GPU i.e. PowerVR and 200Mhz SH4 processor.
Untrue. The Dreamcast wasn't powered by Windows CE, it was just compatible with it. (The logo on the machine says as much.) The only titles "powered" by Windows CE were those built with the WinCE SDK. The bulk of the Dreamcast library, much to Microsoft's dismay, were built with the Katana SDK.