So, if you want to really be 'way past the bleeding edge into “who knows whether it’ll work?” domain…
-You first run a test in QEMU-KVM (assuming you don’t have or want to invest in an Arndale board).
Notice the “Known issues” – And IMO “Video is unstested” is probably only touching on possible device issues… Who knows what other kind of device issues might exist? Remember the hardware commonly used and available in a mobile device is <very> different than the hardware typically found in Desktops and Servers so one can only speculate how good Linux kernel support is for mobile hardware. You may find that a number of systems may require building your own device drivers (if the code is even available).
But, the simple tests I’ve run for fun with openSUSE ARM running in a chroot (modified x64 kernel to emulate ARM) have worked without any issues so far… in a non-graphical environment.
If you’re successful, be sure to blog and tweet about it. I’m sure you’d get a lot of interest.