...So far, I've been able to run things that I can run with the Cygwin version, and some of the broken features are on par. I've also been able to merge in the 'unstable' PowerPC core which can run things the 'stable' cannot.
Transport wise, I've gotten it to talk with pcap and UDP. I have the groundwork to make it dynamic so that pcap isn't required to run it, so you can run dynamips without installing anything.
I hope to add some different underlying networking connections.