Open sourced Pegasus re-implementation?

Assumptions:

1) Open Sourced Pegasos design usable by non-Genesi entity for re-implementation.
2) People would buy it.

Rough Ideas:
MPC7447a (on motherboard, no CPU card)
Upgrade to Marvell Discover VI controller.
DDR2 RAM (533mhz). 2 Slots.
PCI-e implementation
PCI implementation ???
SATA II
USB 2
Gigabit Ethernet
AC97 Audio
PS2 keys/mouse
RS232 ???

Key factors of design are:
retain performance aspects of original Peg,

reduce cost by elimination of CPU card feature and older legacy device support (parallel, joystick, firewire, floppy controller),

and modernization through PCI-e (even if only X4) - SATA - and USB2.

I know this isn't the greatest idea but thought I would throw it out for comment anyway.