Amithlon is good if you plan on using applications. I have it booting directly from the linux kernel, bypassing QNX. Hardware specs aren't that much of a problem, if you get specific types, such as a SB card or an AC97 chipset. You can dowload an updated kernel from here:
Gary's Amithon PageIt's got more mobo, chipset support and drivers for GeForceFX cards. The kernel itself is VERY stable and I've been using it for a few months without error.
As for your games, you can download various Virtual Floppy proggies off Aminet which will allow you to read your ADF files. If you want to run UAE, you can, but I was only able to get it to run from the CLI. The GUI never worked for me. Any games that bang the hardware are moot. All of the chipset emulation was ripped out from Amithlon. It's basically just a CPU shell, using your GFX card through P96.
The downside is, it's hard to find Amithlon in the first place. Few places that I know of still carry it and I don't condone what happened between Bernd and H&P, but it *IS* a trick piece of software.
Hope that helps. :-D
[EDIT] I have had outstanding success using WHDLoad and it's various games on Amithlon. If you're wanting to play a bunch of games, get the newest version of it, register it and play those. Most of those will not require the ADFs. Bane of the Cosmic Forge works flawlessly, much to my happiness. :-P You'll just be limited to those that are 3.1 rom compliant.