Not only possible, but there's a company that's doing exactly that, with a tweaked BeagleBoard design: [link]
It's basically a BeagleBoard rev. C2 equivalent (I believe it's based on the B7, but is feature identical to the C2) with a built-in USB hub, a touchscreen (the touch part most likely USB interfaced,) a keyboard and touchpad (again, most likely USB interfaced,) USB-interfaced wifi and bluetooth, and 8 GiB of MicroSD for storage. Oh, and a couple decently sized batteries.
User-friendly RPCEmu for Windows emerges Matthew and Peter Howkins have produced RPCEmu Spoon Edition, a more user-friendly Microsoft Windows-compatible build of the open source and cross-platform RiscPC emulator. Their version features an installer for Windows users, the software's source code and various bug fixes and improvements - although this Windows port has no networking support. 13 comments, latest by Spriteman on 9/1/09 11:44PM. Published: 1 Jan 2009