A friend of mine who worked at the same IT mag as I does electronic design, FPGA work, etc. from time to time. He said creating a card that had, say, a 1.2ghz Intel Atom on board that emulated any of the m68k family at a blistering pace was no problem.
Of course, getting such a beast to interface with the archaic, arcane and downright cryptic ins-and-outs of Amiga circuitry...that's another matter altogether!