I see no reason why a PPC-JIT could not be make for an x86, and I would not be surprised if the Modern x86 gave exceptional performance.
As a Side note I ran WinUAE on my new 3ghz machine and was able to Emulate an A500 to perfection. Even the sound was faultless... I used a 60Hz Video sync (It's a shame the PC can't generate a 50Hz one:-( ), bur all my old games ran perfectly. It did a similarly great job emulation an A1200 (basicly the same, but with the addition of an EC020+AGA and 2Meg Chip ram). There was an some issues with the display going black at time (which I think is a bug in UAE).
Then I decided to switch the JIT on (Fastest Possible setting and Direct)... wow!!! Speed checkers were reporting about 2500MIPS (this only happens when you have the 60Hz sync on, otherwise the timers run too fast). The Sysinfo comment was "Phone Me", I tried it didn't work :-(
Now where did I put my Imagine disks!!! :-)