Under windows 9x, it doesn't make much of a diff if any, unless you're opening and closing a huge number of different programs within the same session(between bootups). Opening too many programs at once will cause lockups, crashes, etc because windows 9x has only a certain amount resources available which is independent of how much ram you have. it won't come near 512 for multitasking. Under 2000 however, it may be utilitized, but 2000 is not very good for gaming, which is the subject of your question. So the answer is no.
On a side note, if you do have more than 128mb of ram and want a little system boost for free and can stomach changing your sytem.ini file, run system.ini and under the [386enh] heading type in "ConservativeSwapfileUsage=1" without the quotation marks. Make sure not to change or delete anything else. Save changes and this will cause windows to use all available ram before it starts writing to the swap file. I run ME and this is one of the most helpful performance boosts I've found.