Take a look at a picture of a N900 and the question should answer itself.

Regarding Pandora's "gaming optimizations" vs N900: Afaik, both the N900 and Pandora are based on TI's full-featured OMAP3430 / 3530 System On a Chip, respectively. That means that they share the same cores, capabilities, coprocessors, interfaces etc. There was no way for MWeston to for e.g. 'drop in a more powerful graphics card' onto the board.

At the moment, it looks like the PowerVR SGX openGL ES texture surfaces will not be updateable fast enough to use for scaled 50-60fps screen-updates from emulators.

That's pretty aggravating, since the concept of maemo5 is to map application windows to openGL textures. Unless some new info comes along, I think we are looking at no high fps emulators (or *any* games, or high framerate video...) within scaled GL-ES windows.

I'm ignorant of what is available and planned for fremantle in the hardware-scaling department. The SoC also has some video hardware which should handle such things easily. Video players, games, emus should at least have 1990s tech. for drawing to screen. That means providing the basics. Scaled, Vsync'd Blitting, preferably with support for double/triple buffers.
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Back on topic, Exophase's (gpsp) and Marat's (vgba) should run fine, but only Marat has contributed emus to the tablets so far; we'll see...