Basic HIMEM.SYS recognizes only 64MB of RAM. Enhanced extended memory managers can recognize more than that if installed.
I have played DOS games in my Pentium I and II machines with multi-configurations -128MB, 256 and 512MB RAMs. I didn't face any problems.
Once, I noted when I tried playing Crusader No: Regret in a Slot 1-based PIII 450 CPU with 256MB RAM on a DFI P2XBL motherboard, the game wouldn't load until I decreased the available RAM by allocating a major chunk of it to a RAMDISK using XMSDSK program, leaving about 128MB total RAM free.
But this can be an isolated incident, since when I tried again in other systems with 256 and 512MB RAM, the game just runs fine.
I usually install more RAM (just because I have quite a number of "sticks" lying around) and allocate excess RAM to a RAMDISK and setting the SET TEMP= to the ramdisk in DOS, and let Windows 95/98 utilize as much as it can for itself in my Pentium machines.