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If I was a betting man, I'd say that it isn't possible. Someone correct me if I'm wrong, but isn't the Xscale CPU RISC-based? Even if there was a way to emulate the x86 processing layer on the Axim, by that time I would imagine that it would be way too slow and buggy to boot the Win98 machine code.
Furthermore, the basic requirements of Win98 (VGA, keyboard, mouse) wouldn't really be met, so we're talking about even more hacking/emulation. At the end of the day, a desktop OS that has been maligned enough to run on an Axim (if possible) would probably really suck compared to WM2003.
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