Actually, you can do a _lot_ more than just run Windows with this (basically dosbox for PPC). People are getting all sorts of DOS software running (including warcraft, warcraft 2, dune 2, UFO, EOB1 and 2, Dungeonmaster, etc.... the list goes on!
Check out
http://mamaich.kasone.com/ again as well, as it has been updated as of 21/6.
Craig (happily playing SSG's Halls of Montezuma and SSI's Unlimited Adventures on his ipaq
)