Actually, I'd rather not have one with an x86 compatible chip, even if it could be made with the same power characteristics of the embedded arm / xscale cpu's. The reason? If a handheld is binary compatible with the desktop, then most likely we will see it running desktop versions of software, instead of programs specifically designed for a handheld unit (this goes for both Windows and Linux software). The problem with this, is a lot of desktop semantics don't translate properly to a handheld (i.e., assuming the presence of two / three mouse buttons, along with full keyboard / large screen, lots of ram / storage, etc). Whereas when developers have to specifically port an app to an alternate platform, they are more likely to also take into account the target form factor.
An example of this is the difference between the feel of a Zaurus running Qtopia / Opie, v.s. running X11. When I'm running in X mode, I tend to use it as a mini laptop (or laptop replacement), whereas when I'm just using the Qtopia or Opie environment, the unit feels like, and I use it as, a PDA. However, I can concede that there are times when I would rather have a laptop replacement, but most of the time I need PDA functionality and usability.