It's actually pretty darned cool. I've used it to actually log on to my Windows98SE side a number of times. (I triple boot Win2k-98SE-Linux) I've also loaded virtual images, which is the best thing to do, of dos/win3.1 and a linux session or two.
Speedwise, it's not that bad. About what you'd expect in emulation. I'm running a P3/500 256 mb RAM, Win2k, and the speed is
acceptable but nowhere near as fast as it is when I boot natively. Beggers can't be choosers though.
