There already is a port of MAME for the N800 based on XMAME, however XMAME has been dead for many months now. I doubt it would be able to play much beyond old 80s games though. The Kailerra (however it's spelt) is closed-source as far as I know, so there's no way to port that.

There's nothing that should keep XMAME from running after a few minor adjustments to the source for IT2008.