Given that WinUAE can emulate a few cards perfectly (eg Picasso II based on the GD5428, Piccolo SD64 based on the 5434) then I guess it is possible to convert the code emulation to an FPGA emulation
implementation *. I realise this isn't as trivial as typing this message
Must admit I was surprised to take a disk from my 3000 with a Piccolo SD64 in it that's running the EGS software and have it work perfectly on WinUAE. I was not expecting that at all!
* - can we put away the pitchforks now?