I've been helping with iDroid and Bootlace, and I can tell you that a lot has progressed over the last couple of months. Power management has been a huge priority, and while some of it is there now, much more is to come. Also, it runs incredibly slowly on a 2G, but quite reasonable on a 3G, and absolutely awesome on a 3GS. In fact it feels faster on a 3GS than on a real droid phone.
Part of the reason that it runs hot is the screen power management is incomplete, so it's always on, albeit dimmed. This should change soon.
It doesn't even run on the iPhone 3GS? Also, the iPhone 2G and 3G have identical processors, so I'm not seeing where a speed difference would come from...
First 2 iPhone generations had a 600 Mhz ARM 11 CPU but they only ran at 400 Mhz. iPhone 3GS was about twice as fast with a much better Cortex A8 CPU and a 600 MHz clock.
Besides he said it's working even faster on iPhone 3GS than on a Droid 1 (same CPU and clock). Did you even read the comment?
Secondly, my point was about the iPhone 2G vs 3G (not 3GS), in reply t "it runs incredibly slowly on a 2G, but quite reasonable on a 3G". They -- as you said -- have the exact same processor, so it can't really run very different on one or the other. (In fact, I have it on both right in front of me, it seems about the same running iDroid.)
CPUs today are a lot less based on raw MHz/GHz and more about the technologies in which they achieve them. This can be easily seen with some single-core CPUs out-performing dual core and a few quad core CPUs. Who cares if you have a 3.2 GHz quad core CPU if this other single-core CPU at 2.8 GHz is better? While these situations aren't too common, they're prime examples of how raw speed doesn't matter.
FYI: if you install this, boot into iDroid, and can't figure out how to reboot: The power button is simulated by holding the iPhone's home and lock buttons simultaneously.
A friend tried it on his 2g iphone and got 15 minutes battery life. Useful as a proof of concept. or as engineering work in progress, but not as a phone.
Personally, I've been occasionally watching the efforts to put Android on the HTC HD2 (WinMo 6.5, left behind for 7). Seems to be going well, with reasonable battery life, etc. although not "over the air" install. Look up the XDA developers forums.
Part of the reason that it runs hot is the screen power management is incomplete, so it's always on, albeit dimmed. This should change soon.