Also, there's an ODW with the Peg II on ebay: http://www.ebay.com/itm/Pegasos-II-Open-Desktop-Workstation-/290607777969?pt=Desktop_PCs&hash=item43a992c8b1
Is installing Amiga on this as simple as instaling an OS on a WinTel machine?
While I don't use AmigaOS4, but MorphOS instead, I suppose the answer is basically "yes". Given that two out of the three Post-Commodore Amiga operating systems can be run natively on the Pegasos II, it might be the best choice.
MorphOS in addition also runs on PowerPC Macs (
Homepage).
AROS on the other hand is running on standard PCs (although one has to check compatibility due to the variety of configurations), including an
Android hosted port now as well.