This is a kewl project.. It was already done for the A1000 (twice- go look up the pheonix board).
I have several comments.. First, I think its an awesome Idea.. Theres tons of A500s out there just consuming closet space and collecting dust.. And the A500 is one of the kewlest looking and most memorable AMIGA case styles ever..
If I was to do this, I would use an 060 CPU to begin with.. The 030 is too dated and lacks the fire-power to do anything seriously competitive with modern upgraded 68k AMIGAs.
I would also include in the design whatever glue-logic is necessary to allow it to use modern dram. Higher desnsity 72pin SIMMs at the very least.. 16megs is nothing by today's standards.
I would also shit-can the A500 side-car bus, and put a full-blown Z-III slot out the side.. Noone is seriously gonna cram a Zorro card, laying flat, over the motherboard inside an A500..
Last, I would include integrated ethernet. It costs next to nothing to do nowadayze, with easily available embedded solutions..