Its not finished nor does it have any sound but you can ask me questions about it. It currently has 2700 lines of C.
Development Progress is maintained on ( http://newogame.posterous.com/ ) and a twitter page ( http://twitter.com/NewoGame ) page. All you need to know about the toolchain is Making homebrew.
And no it cannot run on a PC, it might work in Dolphin but it will not be perfect.