Beats of Rage was ported to MorphOS/OS4 long time ago.
Depending on the number of colours and resolution you won't need a gfx card (320x256 and 256colours could be fast enough... even 320x190 in ham8 if you kill the OS). Anyway as SamuraiCrow points it would be a good idea to rebuild the engine to work on classic miggies. Another different thing is that any developer has time and thinks the game worths his time.