Since getting PPC performance up to snuff requires compilers with cache hints and other tricks, I see no reason to continue the PPC path. It was a temporary kludge.
ARM is the cuts a lot of cruft out of other instruction sets including the x86. Though the AMD64 has better developed software that Amiga cannot use, ARM looks more promising.
Going back to 68k is more promising, for that matter. Since the N68050 is slated to contain some of the same features as modern ARM processors, it just is a matter of finishing it up and getting it on the market so we can work out more bugs and get it mass-produced someday. If the N68070 cannot beat the performance of a 68060 per clock cycle, it might make sense to switch to AROS for ARM.
I look forward to the Raspberry Pi, even if it doesn't run much Amiga software.