Just to add my random thoughts....
Coldfire _in theory_ might possibly run a pretty fast 68K JIT. If you look up HP's Dynamo technology, you'll see what I mean.
Of course JIT has overheads too, transcription times being one of them, and a pretty big one for slower CPUs at that. This, however, is where the coldfire could do well in that transcription for a lot of instructions (basically all the implemented ones) wouldn't really involve much more than copying them.
This all hinges, of course, on someone having the time and skill to develop it. Oh, and it being feasable to do in the first place, which I freely admit might prove a little bit tricky :-)