Reesy- would you reconsider my suggestion to add an M68000 clock control? Dropping M68000 clock to 6 MHz or so on most games would achieve full speed emulated system operation with a 200 MHz ARM9 clock; hell, for many games, you can even go as low as 4 MHz and still see full performance the majority of the time-- you could even UNDERclock the 920T if you wanted to.
But the more fun thing would be turning UP M68000 clock and making the games run with less lag than they had on the original hardware. LOTS of games experience catastrophic slowdown that is removed by raising M68000 clock to 10 or 12 MHz or so, and those are achievable on the GP2X's processing capability-- perhaps significantly higher if you are able to run Z80 emulation on the 940T.