My old computer had a 1.4ghz AMD Athlon (actual 1.4 ghz, before they moved to the "XP" naming scheme), 256 mb of ram, and a mid-range motherboard. I believe MAME was around version .6-.7 at the time. I could run NBA Jam, Hangtime, and Ultimate Hangtime at 100% easily. Occasionally, the sound would get a little scratchy which might have indicated a need for more power. At the time, the only game that I couldn't run well was Killer Instinct (and of course Cruisin' USA, et. al).
-Ace-