i have tried morphos and to be honest it's just a marketing ploy to keep amiga users interested in genesis stuff. they are just in it to earn money and split the amiga community as i see it...
morphos can run aos3.1 software but thats all to it and nothing more of interest, the new aos it never will be.
a good alternative for aos3.1 will be aros, when its ready...
you can buy aos4.0 and buy used ppc cards on ebay and run it... so saying there is no hw to run aos4 on is just crap talk...