The Replay board is more of a platform, so it will support many different cores from different developers. The boot structure is designed from the start to make this easy.
I'm really an FPGA person, so once the hardware is up and running I'll maintain and enhance the Amiga core. I'm working with a few other people on it as well.
You can expect initially the board to behave like an ARM enhanced MiniMig with more RAM and DVI, but the short term aim is to get a 68020/30 softcore and enhanced video so ECS level at least. AGA may not be the best way to go, the hardware can do much better but the problem is driver/software compatibility.
/Mike