Well thanks a lot to Templario, Korni, Andreas_Wolf, jPV and NewSense taking the time to answer my questions! (bonus thanks goes out to jPV for his MorphOS library... I did a lot of reading in it already and it helped to grasp the fundamentals :) )
Another question - I see there is a bounties section up here on this page. Is it actually updated? I think it's an awesome idea, but seeing that many deadlines have long passed (2010,2011) I wonder if it makes sense to actually chip in a few bucks ?
PowerMac G4 ("Quicksilver"), 733 Mhz, 1234 MB RAM, 64 MB Radeon 9000