In my (relatively uninformed) opinion, OMAP5 is the safe choice, A80 is the risky choice, x86 is the very risky choice, and Snapdragon is the best choice. They would all be acceptable choices to me, and significant upgrades compared to the Pandora.
From what I've seen about the Jolla Phone (they're using a Snapdragon), they are even using some hybrid-library to load Android drivers into their Linux system as no Linux drivers are available.
It also seems they're loading tons of binary blobs...
While that would work for our own distribution, it would make things harder for people who want to create and release their own Linux distribution (Slackware, ArchLinux, etc.) for the Pyra, as they couldn't simply use the kernel but would need to include these blobs and the hybrid library as well.
Other non-Linux based OS might not even be possible anymore...
Do we really want that, for a bit of more power?