Obviously a JIT would be better but that's a long way off.
Even lazy flag calculation in an interpreter would be a win, I did that when I wrote an interpreter in 6502 assembler.
The no flags is what made me think of MIPS, but then 88100 doesn't appear to have flags either. But the 68k does.
You can create a virtual CPU if you want, I just think it's not inspired enough by the 68k to make a big deal out of it.
6502 was inspired by pdp11, but that was never once mentioned in documentation.