Running Dosbox Emulator on 386 + Win95
Dosbox Megabuild 6 runs on a 386DX-40 in Windows 95.
It is slow, so you might want to use the 2x speed feature of Youtube.
As benchmark I chose Norton Utilities 4.50 Advanced Edition sysinfo tool that calculates a speed index relative to PC XT. The score within the emulated environment is questionable....
It reports a 386 just because it doesn't know 486 CPUs yet, Dosbox in fact emulates newer CPU generation.
The reasonable low system requirements for the Dosbox emulator are a refreshing exception compared to newer programs that require either certain CPU extensions or quite new Windows APIs while not stating any official minimum system requirements.
System is a 386DX-40 with 32 MB RAM / TSENG ET4000 at 1024x768x256 / Win95
Dosbox was configured to use max cycles / 4 MB emulated RAM / hardware OPL / SB16 / GUS / Speaker.