Well, I do know that WINE does not work on Pandora, hence you can't emulate later-version PC games...for example, Peggle - but there is an Android version of that one that runs on Pandora. Qemu will run lower-version PC games, and, as mentioned above, there ARE some PC games that have direct ports.
Bottom line is...a lot of games you might want to play on WINE - which you can't on Pandora...often, there are other options for that same game...which WILL work on Pandora.
It would help for you to give us a total picture of everything you think you might want to do with the Pandora...and then we could tell you yes or no that you could do X or Y...and if any alternate options exist for what you want to do...for example, as mentioned, certain PC games. While you might not be able to play in the form you are looking for, alternative options may exist which wll allow you to do it on Pandora.
I know this is something of a non-answer - but it would help if you gave a fuller picture of what you are expecting the Pandora to do for you.