While I understand your enthusiasm, my fantasy is perhaps a little more feasible/realistic in an affordable cd32 ram and cpu upgrade.
While I enjoyed the cd32 well enough "back in the day", Im more of a fan of what it almost was these days. Even to just double cpu clock rate and add a little fast ram makes a huge difference. Apart from mostly 3d shooters we've never really had aga games that push that spec machine (in the way, say Shadow Of The Beast or Lionheart pushed the stock a500). It's all just potential locked away in a box.