Right now, Emacs offer a great value. Generally, they cost less than a Mac Mini and offer a faster processor than a Pegasos.
While not available yet, future support of Powermacs should make MorphOS more interesting to PC user that are used to being able to assemble their own systems. Whole functioning Powermacs are available from a variety of source (Ebay is probably the lowest cost source) and assembling a Powermac from components is frighteningly easy (as a PC user I must say Apple designed this system to be incredibly easy to service).

For me, its difficult to recommend a system currently. I have an eMac, but if Powermac support is introduced I'll immediately switch to that. I wouldn't recommend an Efika as its memory limitations make running some software difficult or impossible (and it has a slow processor).

Used hardware, for me, has not been a negative. The latest systems to be supported (from Apple) are well made and probably more reliable than alternative low volume PPC motherboards.
And, except for the Efika, the price of used Apple hardware makes these systems the lowest cost way to run an Amiga like OS.

I think we're all waiting till tomorrow to hear about the MorphOS presentation at Essen. The statement that "They will demonstrate the latest version of MorphOS on various hardware platforms" is very interesting. I don't want to lead to conjecture, the hardware mentioned could be that which is already supported, but for months we've heard of Powerbook and Powermasc ports. Who knows what the developer will demonstrate? They're very tight lipped.