Floating point is almost completely irrelevant for general day-to-day use of a personal computer. Just how much FP does it need to read email, use a word processor or browse a few websites? Even when using a spreadsheet, the sort of small spreadsheets created by most home users will not put a strain on the FPemulator (and if you're calculating anything financial, you really want it to be fixed point).
The main problem with ARMs for personal computers is that no one is targetting them at that market, so they aren't being made for raw throughput - i.e. no one is going to make a 3GHz ARM with a 500MHz 256bit bus
Although we can always dream