There are easier solutions. One is Amiga Forever as it includes a Linux distribution which boots directly into the Amiga OS.

Another alternative is AROS which is a ported Amiga OS and has been in development for years.

Personally I would run Windows 7 (can be roughly the same speed as XP on many systems as long as there is enough ram) and have WinUAE running ClassicWB 3.9. Gives a very nice environment, and under emulation is much faster than you could even dream of on a real Amiga, even an 060.