You will want to look at some other emulators... Vintage, Retrocade, Spacade, NeoRageX, ect.... They run better then mame on older machines.
Plus you will want to run an older version of mame... A version around when that was a decent machine... .36 is probably a good place to start (I think that was when they changed the default bpp from 8bits. That slowed a bunch of games down).
You might also want to move to dos... you will get another group of games runnign then...
No hardware stretching, or any other nice feature like that... You might also want to drop the sound quality down.
Don't expect much or new... But if you like classics... there are a lot of people here who put machines of that caliber in their cabinets.