@Phill
A few months ago I bought an ODW, which is basicly a Pegasos 2.
The hardware compared to classic Amiga is very fast and also relativly cheap. MorphOS is very responsive and much, much faster then the fastest classic and very compatible to older software. Some software I tried needed a small modification when installing, but everything run.
It is a pity that MorphOS still lacks some functionality 'out of the box'.