It sounded to me in articles I'd read that the 2700G was a proprietary chip that intel made to go with it's mobile CPUs, but it sounds like it was actually licensed from the company that makes PowerVR and is very similar the GPU in the Dreamcast.
Here's the article:
http://www.theregister.co.uk/2005/01...s_powervr_mbx/
If there are so many lincencees of the Power VR architecture, it would seem like there should be more software that supports it. I wonder how hard it would be to port Dreamcast games to the Axim X50v?