Hey MskoDestny, how does Icaros Live run on your new PC? Must be pretty fast, have you tried the LiveDVD?
I lost interest in AROS quite a while back. I think a classic Amiga port of it would be interesting. With a bit of work, the hardware the Atari Coldfire Project is brewing up could be adapted for making a super classic Amiga of sorts (the work done on the Minimig should make that a bit easier). Using a port of AROS on such a machine rather than classic Amiga OS would reduce the overhead of the instruction emulation traps (since it could be compiled for Coldfire only old applications would trigger the traps) and make it easier to support all the hardware on the machine. Alas, I don't think anyone is even working on a classic port.
On x86, I don't see the point. If I wanted something simple and lightweight, but lacking in software there's Haiku and Syllable. Those have memory protection, resource tracking, SMP support and generally have a much more modern architecture.