In my understanding the V4(e) core needs a Program (the CF68klib which is provided by Freescale (Programed by MicroAPL) to run 68k code properly.
There are two ways this CF68kLib works
a) Run code, trap out when needed -> The opcodes that are "double" in 68k and CF and behave differently can not trap out and do whatever they should do in Coldfire world. Maybe that is a bit different to what they would do on 68k.
There are only a few (4?) opcodes that are double between 68060 and coldfire V4e instruction set an behave differently, but it is a valid point when speaking about binary compatability.
b) Set up an virtual 68k on Coldfire but without MMU and FPU, run 68k code. One problem could be if you want to emulate an 68060 (because there are only a few (4?) opcodes that are double between 68060 and coldfire V4e instruction set) that you probably need an MMU for your AMIGA to work...
You could emulate an 68030 but i think it has more unupported instructions, which should slow down the Emulation...
Someone (i think his name was Darek Smirtana?) from Elbox wrote in a forum post that they had to write their own software because the one that was provided by Freescale did not work, without getting more specific.
I also think (like eslapion) that if the Coldfire V4e at 266MHz gives a raw Power on 68k code that is at least at an level of an 68060 @ 100MHz i will be fine with it. One could argue that a 68k emulator on an embedded PPC is faster then "Emulation" on the Coldfire and probably cheaper but that is another thing.
The price difference between the Chips (68060 vs Colfire) and goodies (USB/Ethernet/PCI) that come with the Coldfire speak for the Coldfire. Performance wise there are only guesses, and a little Screenshot from ATARI Coldfire Project where "Raw Power" of an Coldfire developer board (V4 @ 200MHz, TOS under 68k Emulation) is equal to TOS running on a real ATARI that is equipped with a CT63 Accelerator (68060 @ 100 MHz)
As for the x86, i somehow have a bad feeling about having one in my AMIGA. It's fine for my PC running UAE but not for the Miggy. If it were for the money i would have sold my Blizzard 1260 on eBay for 200€-300€ already...