So, I have done some testing and these are the results.
A recurring theme in these tests is that running a game in Direct3D mode tends to perform much worse than running in Software mode. Luckily, Software mode still allows most of the graphics settings to be turned on with this laptop.
Unreal Tournament runs at a steady 30FPS in software mode at 512 x 384 (half the native resolution), lowering the res to 320 x 240 provides a near flawless 60FPS experience. Direct3D mode is unplayable, and Glide wrappers do not work with this laptop. Running in D3D mode introduces black boxes where menu text should be, rendering the menus unreadable.
Croc: Legend of the Gobbos is a similar story. 25 - 30FPS at 512 x 384 in software, near constant 60FPS at 320 x 240. Direct3D IS playable in this title, but drops the framerate by 5 - 10 FPS at the same settings.
Pong: The Next Level - 20 - 25 FPS at 512 x 384, 45 - 50 at 320x240, D3D drops framerate in half.
Deus Ex - 15 - 25 FPS at 640 x 480 in software mode. Main menu lags heavily, to around 3 - 5 FPS, which I believe is due to the spinning, shiny 3D logo in the background. D3D mode introduces black boxes around menu text, unless texture color depth is raised to 32 bit. Unfortunately, this laptop's graphics chip only goes up to 24 bit. The result of this is that the game will attempt to go into a 32 bit full screen mode, but will always immediately revert to a 640x480 window. The game doesn't crash though, so there's that. D3D mode runs at 8 - 15 FPS at 640 x 480, and does not have main menu slowdown.
Road Rash has a flawless framerate at max settings at 640x480. I don't know if it's running at 30 or 60, but it looks like 60, and I haven't noticed a single framedrop.
Half Life runs at a consistent 30FPS in software mode in most instances (at 512 x 384). I have not tested lower resolutions. This is fine for me. I have not tested Direct3D in this game either, and I no longer have it installed to test.
The Adventures of Lomax is a rather unpleasant experience. It is unplayable in 16 bit fullscreen, and lowering it to 320 x 240 256 colors only helps so much - there is still constant stuttering going on and improper frame timings.
Max Payne boots to the menu, but crashes or hangs at the loading screen. NeoMagic is listed at unsupported on the official website.
Postal 2 will not run.
No One Lives Forever 2 will not run.
Older DOS games all run flawlessly at their highest settings, even the likes of Screamer 2. Some games do not detect the sound card under native DOS, but most of them will at least be able to utilize Sound Blaster.