I'd say "not yet", at this moment.
My suggestion is to keep your eye on this page: http://www.idroidproject.org/wiki/Status
As you can see from the Wiki table on the iPhone4, the iDroid project participants aren't even sure exactly what hardware is in it yet. So writing code for it without that knowledge is a bit of a challenge.
Seeing as iDroid doesn't even run on iPhone 3GS, I would guess that it's gonna be a while before it runs on the iPhone4. Although, they do have it listed on the Wiki, so the iDroid devs are probably considering it at some point "down the road".