I'm currently testing the USB Gadget drivers functionnalities and it seems that, besides the "Gadget" name, these drivers are quite powerful and allow several use of the OTG port.
The first I tried was the Mass Storage gadget. With that, I was able to make the MiQi appears as an USB stick and boot an Ubuntu ISO from it. I only booted the ISO up to the desktop and rebooted, though.
Technically, it's as simple as :
sudo modprobe g_mass_storage file=/path/to/ubuntu-file.iso
That's it. I'll try to see if I can boot Windows ISO using this feature.
If you have other tips involving the Linux USB Gagdet drivers, you can post them here !