Something more realistic would be the FreeOrion game engine running on the OpenMoko linux distro, which runs on (amongst other things) the FIC Neo 1973 and the FIC Neo FreeRunner cellphones.
The entire distro is built on an open linux stack, so all that would be needed is a simple port and a total reconstruction of the UI to fit the format (hard as hell).
For some info on the FreeRunner, which will begin selling within a few months, check out http://wiki.openmoko.org/wiki/Neo_FreeR ... 2_Hardware
and other pages on that wiki. Things to note are graphics card, good ram, 400mhz processor, 480x640 screen and WiFi. What would be a serious limitation is, of course, processing power and battery drain. It'd be cool to work on after the rest of the roadmap is completed though!