3.2Ghz modest?!
If you're talking about pre-3D/polygonal games then you barely need an old P3, as long as it is set up correctly, with maybe a low-end P4 to get those awkward Midway games running well, or around a 2Ghz model for chds and those few properly-emulated 3D games. Anything over 3Ghz is overkill, as trying to get those latest-supported, high demand games will show little improvement no matter how high you go. In which case, it's better to stay with older MAME versions anyway as I dont think the additions following the 0.106 rebuild will reach their full potential until the emulation is improved with further subsequent releases and optimisation with newer hardware is correctly done by the MAME devs.
I'm sticking with my trusty custom build of 0.105, you can keep your NFL pap.