As these machines are 68k + chipset then AROS will have achieved it's original goal of being 'binary' compatible with OS3.x.
Having the Phase I completed only would mean that you could boot AROS on an AMIGA/MiniMig as OS. It is not guaranteed that it will run your favourite application. The Phase II however should be "binary compatible" and include also a ROM replacement for MiniMig or the original AMIGA.