initial reports say that the speed of that emulator sucks...
I wouldn't say that.... You have to remember what you're doing... And that is emulating a processor (ppc) which is wildly different from the native one (x86). Taken in that light, the JITC version isn't bad, from what I've seen. I ran through the Mac OSX (Panther 10.3) install on it, in a matter of about 2.5 hours with PearPC on my 3ghz P4.
When you boost the refresh rate, the processor emulation bogs down, but the screen redraws smooth out very well. Honestly, running a 50ms refresh on a high-end system shouldn't result in a MorphOS installation that runs much worse than on a BlizzardPPC classic Amiga... It makes me really hope that there is some why to get WinUAE to emulate a classic Amiga with a PPC card. That would be cool as heck. :-)
Anyhow, back on target here. PearPC still has a lot of work that needs to be done. The Mac OSX install is bugged. Hardfile support is kind of spotty... So is CD emulation, for that matter. I couldn't get Darwin to boot, at all... And, according to reports, the openfirmware stuff isn't exactly functional. ;-) Still, I think it's a rather impressive proof-of-concept.