I'm not with the ReactOS project, but I have been following it closely and would like to clear a few things up:
The point of ReactOS is running Windows binaries on a free, non-Windows environment. ReactOS misses that purpose, since x86 binaries won"t run on it (Raspberry PI), Windows or otherwise
Without mentioning the Pi, it sounds like you're saying ReactOS (in general) won't run x86 binaries.
Native apps are another story, because most windows software is closed source it will require the developer to re-compile the application for you. It won"t just be a matter of poping in the disk for your favorite program such as Photoshop or Office it will be a matter of paying for another copy for your specifc platform assuming that the developer chooses to make that avalible for you.
But since ReactOS itself is opensource, they can recompile it for ARM. Only there are no ARM windows applications to run on that, since there is no ARM Windows for now, so that means to run any app on ReactOS/ARM, you need that app"s source, and to recompile it too.
A common misconception. It would be possible to port ReactOS to ARM and have it run x86 binaries. See this page (the See Also section) - To sum it up, there was a project originally called DARWINE that was trying to run x86 apps through wine on PowerPC by using qemu. According to the discussions linked, you could use QEMU (and possibly LLVM, it's not exactly clear) to execute the x86 specific code; and in a regular Windows binary, a lot of code is related to the WIN32 API, so if the API is ported a large portion of code could run natively (it was mentioned that speed could get up to 50% of x86 speeds, but that was using WINE as an emulation layer on top of Darwin, ReactOS is faster by its nature). Something analog to Just-in-Time compilation for CPU code.
Unfortunately, there isn't much work being done on the ARM port at the moment (although there is some). Maybe some RaspberryPi equipped coders could take it up as a pet project - I think ReactOS has potential as a SmartPhone OS in the future as well.
As for ReactOS, I have never used it but from what I understand it barely works with the x86 processors it is designed for so I don"t think it will make its way over to ARM. Just to clarify getting Windows to load to a command prompt isn"t working, no one who wants a Windows type OS cares about a command prompt.
ReactOS is becoming a very capable OS. Here are some current features:
Wireless Networking Support
FAT, FAT16, FAT32
Basic ext2 support (Installing, even)
Actually installs, boots, and can install and run quite a few programs
Able to use Windows drivers
Most standard components of the Windows GUI
Much of the Windows API implemented – see the Testman page – out of 7,437,818 API tests it has only failed 12,734 (at r56061)
Plus, the project receives over 500 commits per month. The hardest part is behind them – getting a basic functional OS. With most of the major components in place and somewhat functional, they can spend time making them more functional, gaining all the features they should have, and taking care of bugs.
The development pace on this has been getting faster and faster. I believe in just year or two at the current pace, they can have it in a state where I would use it on a day to day basis.