I think, for me, it comes down to cost, performance and compatibility.
From what I have read its a bit vapour-ware as to specifications, so commenting on its proposed specifications is the best we could do.
For the price point, which again has the caveat of not being 100% set, I would expect more, perhaps an 020/030 @ 40Mhz on the motherboard with 8MB FAST RAM 2MB CHIP.
Personally I feel this product is a too little too late and will have to go some way to compete with FPGA implementations that get both cheaper to produce every day as well as improved compatibility.
I am sure there will be plenty of purists that would want an A1200-Reloaded motherboard - but that will come down to compatibility with additional hardware and I will be surprised if that is guaranteed - to be honest I don't see any Apollo's working with it - or atleast being supported.
For me at the moment, I could spend £60 on a refurbished motherboard or slightly cheaper and refurbish this myself - but then again I don't think I am the market for this A1200-Reloaded product.