EDIT: You do get some extra GPIO pins, but only 45 in total. Not enough to do to a full processor with on a pin to pin basis... but you are right in saying it does have extra pins.
Some potential, but not as much as you might think... Hmmm. Definitely something to mull over.
The GPIO pins are also connected to BCM ARM peripherals, for example i2c/spi etc.
SMI is one of these peripherals designed to connect to multiplexed address/data buses.
It can spit out some data at high speed, and a simple FPGA can then act as an interface to the 68K socket.
Dave has done some work here to replace a 6502
https://github.com/hoglet67/PiTubeDirectMy application, using the CM3 as a CPU in an FPGA system is quite a bit simpler as I have more flexibility in the interface timing.
I'll post more on the fpgaarcade.com forum as I make progress.