Why not use a IDE buffered interface, having a 44pin cf/flash as the boot drive on the main connector, another cf slot on one of the 40pin connectors and then either a cdrom or hd (or both) on another connector?
DiskOnModule's seem like a good idea...
http://www.milesie.co.uk/asp/storage.aspSeem to have everything we need... Been thinking about it for a while, to make a "media" Amiga to show pics from my digicam/play mp3s etc whilst sitting next to my tv. Would have built a portable, but no lcd screen...
Jason