The dreamcast system is built off windows CE. If you get the operating system on a laptop, put a dreamcast controller in the PC instead of the keyboard, and run this alongside your current operating system, when you plug in a keyboard, you can go on normal windows, download games and save them to your dreamcast hard drive, power off then power up the dreamcast operating system, and it thinks you have that game in and you have a portable. Sorry for sloppynes.

By portable you mean a laptop running the DreamCast OS, I guess it's cool, but then again it kind of defeats the purpose of portablizing consoles because you can just get emulators for anything anyway.

Still better than having a DreamCast emulator

It can run Windows CE, but doesn't by itself, it has to be a CE based game (most use Katana instead). Additionally, the Dreamcast has a SH4 main processor, which is very different from the x86 processors PC use, so you can't execute Dreamcast code natively on a PC even if you had Windows CE loaded. Emulators (which have gotten pretty good nowadays) are your only real option.

What about dreamcast linux?

http://www.dcisozone.com/downloads/146/ ... ux-OS.html
http://www.lxdream.org/wiki/index.php?t ... cast_Linux

This is the new version: http://linuxdc.sourceforge.net/

What about it? It can't run Dreamcast games if that's your thinking. If you recompile it, and patch for the differences between the SH4 and x86, you just end up with a really old version of Linux on the PC.