Hi there... ;)
At first: I am glad to accept this not-so-easy project. Some folks in the Amiga community pursued me for years to do it and as it seems nobody is willing to do the development, so I decided to take it finally.
However, there are some things to clear, here we go:
1. Asked many times: will the solution be compatible with other OSes than OS4 (especially MorphOS). The answer is: this is absolutely my intention. I won't bind it to OS4 in any way (intentionally, at least), and it is not related to my previous development in OS4. On the other hand, I probably won't be able to do versions for other OSes than OS4, sources will be available to anybody.
2. I have extremely limited time to do the actual development. I just moved from Hungary to New Zealand and I can assure you I have plenty other stuff to deal with in my life recently. Therefore please do not expect any results in short time. My best estimate for the project is about one year to accomplish the bounty goals. (Which might not satisfy everybody's expectations, I can tell you that.)
3. Will the JIT implementation based on Petunia: absolutely not. It will be implemented in a different approach, I won't use either the sources or the OS interface of Petunia for this implementation. (See first answer.) Using Petunia's engine would be difficult and would not help much probably.
4. Please don't expect that every old application of your choice will work sufficiently with JIT. This is not the case with the WinUAE JIT and there is a reason behind it. I will do what I can to improve compatibility, I have a few things, but let revisit that topic later.
5. Please also don't take evidently that the JIT compiling solves all the performance issues of your computer. It will be certainly faster than the interpretive emulation, but still it might not meet all of your expectations.
That is all for now, please feel free to ask if you are in doubt, but please also note the fact that I rather spend my limited time on actual development than answering emails in this topic. (Read: no silly questions.) Thanks.
Please also note that I scarcely read the forums on the Amiga related portals. Therefore don't expect me to answer your random question in a random forum thread.
I have created a blog (beacuse it is sooo hip), if you want follow the development closely. It is still empty, but there will be some posting soon(ish): E-UAE JIT blog
http://euaejit.blogspot.com/I would like to grasp the opportunity to thank Stephen "Cobra" Fellner for his never-ending support, Robert Trevor Dickinson for never let me alone with the JIT topic and Troels Ersking for maintaining the Amiga Bounty.