Well, okay, then there's some additional stuff I should link you to.
First of all, MoSlo sucks--when I used it, I had constant problems where sometimes it wouldn't load the game and I'd have to close the window or even reset the computer. A much better program is Slowdown by Bret Johnson, which not only does the same thing MoSlo does but also offers a wide range of benefits--it even contains a tool to enable or disable the CPU cache without having to go into the BIOS! You can find it on Bret Johnson's home page.
Secondly, one problem you may run into is that... Sierra had some questionable sound drivers, and you might get "Audio Device Could Not Be Initialized" errors, or the sound randomly cutting out, or crap like that. There are, however, fixes for this. One possible fix is to replace the driver with an alternate one from this page, however I personally had better results using the program GoSierra, which you can download here. I recommend trying GoSierra first, THEN trying the replacement drivers.
Even then though, I sometimes had games that would not detect my sound card for Sound Effects (they seem to always detect it just fine for music). When this happened, I would lie and tell it my sound card is a Thunderboard. This however stopped working when I started using a ps/2 mouse, but since you're on an actual 486 you're likely going to use a serial mouse, so you shouldn't have any problems. For the Ultima games, I sometimes had an issue where they refused to see my Sound Blaster card unless I told their setup program that it was an Adlib. But this is just my experience, you may not necessarily experience the same thing.
Ultimas 7 and 8 should play fine on a 486, just remember that these games don't play nice with memory managers like emm386, so you might either have to make a boot disk, or else configure your computer to have a boot menu where you select what setup you want at startup (this is what I did). For the older Ultimas you will almost certainly have to use Slowdown, but that's not too bad.
One more thing: Ultimas 1-5 were originally PC Booter games, where you stuck your disk in then turned the computer on and it booted right to the game (just like a console game). The only way to exit the games is to reset the computer (unless you're in windows, where you can alt-tab out of them). However, some fan-made upgrade patches will add "exit game" functions in addition to stuff like better graphics or having music. You can find just about any Ultima-related thing you would ever need at Ultima: the Reconstruction if you're interested.