I tried unsuccessfully to get freedos working completely. It worked sometimes with dmame but always gave 1/2 page length strange errors with arcadeos. However, it did seem quite a bit faster than the DOS I ended up with (from a win98 install, not sure what version?), however everything does run with the win98-installed DOS version. Just slower.
FOr some games it works just fine, but other games like pacman you can definitely see a problem such as sounds messing up and pac's mouth not moving exactly right, kind of skipping a "bite" occasionally. Not sure what to do about it. I also run smartdrv (came with windows).
I had a good link to setting up the whole thing with DOS but lost it when my kid killed the browser window. I don't think it was a complete document but the closest I could find online. If I can get freedos working perfectly I"ll post it all over the place.