I didn't expect it to run like it is emulated on (anything even resembling) a modern consumer PC, but I appreciate the replies. I didn't think about the iPhone 3G, so that works as a good reference point for performance. I was crossing my fingers that it was bad performance but better than "hours to boot" performance. Le sigh... The reason that I wondered about Windows 95 was to see if I could get a few of these as a simple, cheap way to have both a programming terminal and be able run a certain legacy x86 application while connected to a TV. This legacy application required Windows 95, so if Win95 doesn't run, it isn't worth trying the application.
Thanks for all the replies.. Hopefully, I will be back on the forums with a Raspberry Pi in the (preferably near) future. I'd love to get one, but I'd have to import it (I'm in the USA). I love to mess with Linux, and I currently consider myself a very proficient web developer (HTML, CSS, PHP, MySQL, etc.). I am looking to expand my ability to cover some basic C and/or Python, so this would be great to have as a dedicated learning machine.