-edit- I notice that you suggested USB too, in your post. That's certainly a great idea, though USVB has loads of cool features that one would never need for this project like hot plugging etc... Not sure is the latency of USB would be an issue?
I'm not sure on the latency, but 2.0 is lower than 1.0 and available anywhere. It certainly has enough bandwidth and isn't going away any time soon.
Regardless of what was used, I like the idea of a community standard for modularity. Once the hardware is worked out for one model it could easily be adapted to another system by the same or other developers most interested in that system. The 68000 models still need VPA/VPB etc to access 6800 devices, but other than that it's mostly just bus speed, width and a new connector. Far cheaper than starting from scratch.
There's no point in starting from scratch for each model, otherwise it would never get done for some of them. Once an Amiga had the adapter, you wouldn't have to scour the world looking for those crazy connectors that Commodore used to make a new CPU upgrade either.
We could have reusable CPU modules that users could upgrade easily or carry to their next Amiga or FPGA clone by buying a new adapter.
The other side is that clones could be easier to build and diagnose when you can leave much of the functionality on the CPU card, emulated but usable and replace individual functions with hardware as the project progresses.
A powerful CPU card alone with a power supply and case could even be a Mini-mig type system.
There are sales opportunities all over the idea of a modular CPU card, even if open to being a community project.
There is no point in duplicating someone else's hardware design, the market can't support that competition it so there is still a naturally protected market for someone willing to put in the effort and it significantly lowers the investment.
The benefit to the users is more accessible, cheaper upgrades, better long term investment in CPU hardware and documentation so that when they break in 10 years they can be fixed even though the designer is long gone from the scene.