We tried it on a Quadra with 10MB memory using Insignia's SoftPC Prodessional (DOS, but no Windows). We could watch the characters paint on the screen during redisplay. When switched to 20MB of virtual memory it was even slower!
We haven't yet tried it with 20MB of real memory, but we're guessing that you'll need about that much.
FunkenG: How much memory are you using with SoftPC?
Others having success here?