I did a test last night. Basically, built an Athlon XP 2200+ system for my MAME cabinet. I had an old Matrox Mistique PCI card I threw in for video.
I configured the box, etc... Booted mame and the games looked like hell and were chunky in movement. My test box (my regular PC) is a P4 1.5 gHz with a Radeon 9000. MAme looked and performed really well. I figured the Athlon 2200+ (1.8 gHz) should be close to the same performance). After this post last night, I put the Radeon card in the Athlon box for testng and it made a world of difference. I guess I answered my own question.
(the game I used for benchmark was Street Fighter II US)