In two words, very doubtful. I am running vmame on a 700mHz Thunderbird with (I think) 512 mb ram and it slows down a bit in SW and ESB when things get busy on the screen. I have heard of others having problems with even faster processors. The long and short of it is that my 700mHz box is still not quite enough.
On the other hand, my box has no problem running all the vector games on a raster monitor (except for Top Gunner, but that's a different issue), but driving the ZVG through the parallel port seems to take up a lot of cycles. My worst slowdown is when the death star explodes in SW (LOTS of vectors) and yet mame says I'm still getting pretty much 30 fps. So, mame is not slowing down but the combination of mame and the ZVG is bogging things down a bit, as far as I can tell.
I am going to move up to a 1.6mHz AMD box I have sitting around when I finally get the awful taste of installing a PCI soundcard in the first one out of my mouth...