With the MPC8XXX chips being highly integrated SOC-type devices, I think it's pretty unlikely that they would scale well to being used in an environment with highly obsolete components, if they could even be rigged to use external memory controllers and bus controllers at all. These chips are designed for use in switches and routers and other high-performance network applications, not desktop computing. I'd bet that it would be easier to hack OS X to run on a POWER6 workstation than it would to engineer an MPC8XXX to work at all, let alone well, in a G4 tower. Hacking OS X for a POWER experience would be the more worthwhile endeavor, I'd say - the POWER6 is INSANELY fast, faster than any upgraded (or even brand-new) Mac could ever hope to be.
Unfortunately, Freescale doesn't seem to care about anything besides the embedded market, and IBM only cares about POWER and whatever project gets them the most money (such as their Sony-Toshiba-IBM partnership for the Cell BE, and their dealings with Microsoft and Nintendo for their chips). I'm afraid that PowerPC is yet another fantastic platform marginalized by poor marketing choices and indifference on the part of their proprietors.