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I think it would be possible to get a decent GBA emulator for Rockbox, they are able to do it with iPod linux ( http://ipodlinux.org/wiki/Igpsp ). They were able to overcome the main problem of speed by overclocking the processor to about 78mhz(up to 81MHz). They problem though is that if you over clock your ipod too much you can end up damaging it (atleast to my understanding, please correct me if I am wrong).
I'd expect advance emulation to be fairly fast on the ipod since it uses the same CPU as the Ipod.
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