[1] https://shop.m5stack.com/products/m5stack-tab5-iot-developme...
I think executing an instruction is going to be closer to 20-50 cycles than 200, so it should be much faster than a real 68k CPU.
I think performance is likely to be in the ballpark of a 68040 @20 MHz, but that's just a guess. This would leave 20 cycles for each emulated instruction. With JIT you could reach 200 MHz+ comparable speeds.
So this should be much easier.