Just did some tests with the AXIM X30 high overclocked with XCPUScalar 2004 v2.80 to 728MHz. Set sound to 11kb/s and frame skip to zero in MorphGear running GBA emulation.
FPS was around 30 plus frames per sec at zero frame skip and 40 plus fps with 1 frame skip. Animation was smooth for all games I tried.
Yes the Axim X30 buttons are crap for playing games, at least compared to my iPAQ 2210.