I'm not saying it would be impossible (it definitely could be made), it's just that its a _real huge_ load of work.
I'm curious here -- how it's handled in other m68k-compatible OSes? Like NetBSD, Linux? I doubt there are significant differences between 680x0 and CF, from what I've seen (and remember), all those OSes expect only a very small amount of low-level / CPU specific code written.