Success:
Here is a crappy photo of the Wiz running X11 on the Framebuffer. WM is Matchbox which seems to be very good for this job. Also as promised 'xclock'.
http://www.informatik.uni-bremen.de/~hiben/wiz_matchbox.jpg
Sorry for the poor quality. The batteries in my real camera are dead and my Android Phone is quite stupid with the flash...
The touchscreen is already working but needs calibration.
It seems that rotation is supported by the driver... will check that out now...
*edit*
Rotation works, also for touchscreen. Calibration is really needed because I can only reach the lower quarter of the screen right now...
It also seems that there is MESA Software OpenGL on this thing now... Need to check that out too... ;-)