Since I did not want to pay 500+ Euros just to have some manufacturing defective phone (there are issues reported with all new Android phones) I decided to give it a try and install an Android 4.0 ROM on a cheap Android phone.
Enter Samsung Galaxy Mini, for which I’ve payed 99 euros and spent 1 hour customising it:
It had firmware 2.2.1, and there are some steps to be followed to have ICS on it.
To be able to load a custom ROM, you need a custom rom manager / recovery menu to allow loading these roms. To have custom recovery menu, you need a custom 2.3 firmware (Gingerbread). Then you need to flash the recovery menu, then you need to use it to install the additional ROM, namely ICS.
Not a straight forward process, but at least now I can test my software on Android 4.0 with 99 euros, instead of 500+.