Hi Chunder,
Yes, yes and yes, I've wanted to build a fake miggy using a mini-itx board. In fact, that's the _only_ reason I purchased a EPIA with a 1.3 Ghz cpu, 1 GB ram.
My project was a flop, but I kept the EPIA board anyway and made a fabulous media pc with it. It sits under my entertainment system and is now equipped with a Hauppaugge 350, a zapstream remote, and RF mouse/keyboard combo. I added a 400GB SATA HD to make sure there was enough room for all my recordings.
Here's what happened with the fake miggy project. I installed a via mini-itx epia in a small case. I included 1 GB ram, large capacity hard drive, a Catweasel MK IV and installed Windows XP home. The idea was to disable the Windows boot screen and auto-load Amikit at startup so that the machine would automatically run in Amiga Emulation with a floppy drive that could read Amiga diskettes.
Sounded like a great idea, but for some reason AF 2005 just froze solid on this pc. It wouldn't go anywhere. When I tried to install Amikit on top, it miserably failed with errors. So I went back to installing AF 2005 on my other pc, which has XP pro, not home. It works fine there and runs Amikit perfectly.
Had I known others would play with this idea, I would have taken care of documenting my problems...