Feasible, but not on an a common laptop. There are 28 pin 'Disc on Chip' flash devices for the PC Embedded market, which fit on small form factor PC's (such as 3.5" biscuit and PC104 boards) but never, ever found on run of the mill PC equipment. This, under windows, would act just like a flash storage device, yet does come packaged as a 28 pin DIP chip device. (Manufacturer: M-Systems, ranging from 8Meg to 256Meg and possibly more in the newer series)
But onto the concept, an x86 laptop running WinXP running an emulator! This is not a new RiscPC platform! It is to be quite honest what seems like an abhorrent decision! To package an emulator and claim it is a RiscPC portable, I think not.
If I were to install the Basilisk II emulator onto my PC laptop, and run Apple System 8.5.3 (what the latest version supports) would my laptop suddendly be able to be called an Apple Powerbook? No... (I could go on with examples of other emulators, but it is clear - they are EMULATORS, not the real platform!)
So by trying to define the Microdigital lappy as a fully fledged RiscPC platform is strictly wrong, and to try and steer current users down that road will, I feel, add some turmoil to the already split userbase (26bit vs 32bit... Omega vs Iyonix...)
Let's see this laptop for what it really is... A wolf in sheeps clothing. It's not RiscPC, and to try and associate it as is plainly wrong. Why not just release/license the new VA and ROL Select as a stand alone product? If it only matches a RiscPC in speed on the 2GHz Celeron, then surely it would be more use for users to run it on other higher spec'd PC's, a speed doubling could easily happen by running it on the latest spec PCs.