Well, my Radeon 7000 w/32mb ddr is faster than the Voodoo 5 5500 and I have recently encountered a game which requires more than that.
Having said this, I know someone who is running EQ SoL with a Voodoo 5. Not sure how well, but he's doing it. It's all about resolution and settings. If you can handle no FSAA, bilinear filtering etc and run in 800x600 or 640x480 (I have to run MOHAA in 640x480 to attain perfect speed) then a Voodoo 5 should scrape by
Oh and regarding Generals: my system cannot run that game worth a damn. Took me about 5 mins just to get through the intro part