I've managed to run hello world (static at the moment) which is an x86 binary, on my n900 using qemu's user linux mode.

?:/home/opt/root# file hello
hello: ELF 32-bit LSB executable, Intel 80386, version 1 (SYSV), for GNU/Linux 2.6.8, statically linked, stripped
?:/home/opt/root# file `which file`
/usr/bin/file: ELF 32-bit LSB executable, ARM, version 1 (SYSV), for GNU/Linux 2.4.17, dynamically linked (uses shared libs), stripped
?:/home/opt/root# ./qemu-i386-2 ./hello
Hello World
?:/home/opt/root#

Next up, dynamically linked stuff, and then wine ))