A further question. On 68Ks without FPUs, do all floating point operations produce exceptions?
Yes.
Further, would it be possible to program an FPGA to emulate (or improve upon these trapped illegal opcodes?
It's not that simple. The CPU is set up to communicate with co-processors. The FPU instructions actually have a 3 bit coprocessor ID specified in them. When set up properly, the instructions are sent to the appropriate co-processor without trapping. The co-processor signals when it's done with the instruction. If I remember correctly, Motorola changed something in the 68040+ so that the old external FPU co-processors didn't work any more. They wanted people using the newer style and faster built in FPU as well as customers buying them. You could probably research how external co-processors were done in the 68020/68030 and 68881/68882 manuals. More than 1 FPU was possible too. Someone at C= supposedly made a 16 math coprocessor card (8 should be the limit of co-processor IDs). That would probably have more processing power than a 68060 FPU if they could all be used in parallel. Still, some operations like fmove have less overhead being integrated to the CPU.
An fpga can contain a full FPU running much faster than a 68882. If it's not integrated with the CPU, it's going to have a bottleneck even if the traps can be avoided. The CPU+FPU can be contained in a fpga without the overhead. Less clocks without a longer pipeline than the 68060 are possible. Gunnar (Natami project) claims 1 cycle for a floating point multiply (fmul) should be possible for example.
Interesting idea. Are you suggesting that an EC processor with a software floating point library might be faster than using the built in FPU of a full 68060?
No. A 68060 without FPU using a floating point software library would likely be faster than using a 68882. A 68060 without a FPU and software floating point would have to run several times faster than a 68060 with FPU to match the same performance. There is still a trap here as well unless the AmigaOS IEEE math libraries are used.