Standard, desktop Windows will not run properly in 64MB of RAM. MacOS X will not run properly in 64MB of RAM. Your 770 has 64MB of RAM, which can not be upgraded.

The CPU in the 770 runs at about 220MHz. Emulators make things slower. There are few current operating systems that can run tolerably on a 220MHz CPU.

Running an emulator? I'm sure it would be possible to emulate Windows 3.1 on your 770, but even then it would be extremely slow and unusable.

The USB and Bluetooth stuff you mentioned is nifty, but has nothing at all to do with running an alternate operating system on the 770.

The only useful thing you'll get out of running some other OS on the 770 is geek bragging rights. If you want that, get NetBSD or OpenBSD to run on it.