The trouble is the Atari (TOS) community is spread over many countries and probably only reaches 4 figures, there is no money here so no one wants to develop. I work with PCs every day, I hate them, the only computers I have at home are Atari's and I do not want to see a PC when I go home. I think using a 80x86 chip would destroy my escape from the PC world.
Coldfire is really for embedded applications not like the PPC which is designed for desktop stuff (I know that is not good argument), I am also sure that the G3s and G4s have good 68K emulation software and can do it quicker than a Coldfire, the G3 is also going to be braking the 1Ghz line very soon (not the G4 for some reason).
I would rather use a MAC or maybe one of the below could be adapted;
Most of these have all that is needed including Flash memory, SCSI, serial, parallel, etc. only problem is price - I have requested some information but I do not think they are cheap.
There are also other clones out there not to mention any names.