Maybe it's ignorance. But as far as I can tell, unless it's the really old games that relied on CPU timings and stuff, most of the time it doesn't matter too much?
It's the small things, I would say.
The processor itself isn't that much of the center here.
Compatibility wise, a Pentium/II/III is still very backwards compatible.
Though its inner working is different to a 386 or 486, of course.
A Pentium uses super scalar technology and lots of code prediction, for the cache to be efficient.
It also goes away from CISC to RISC architecture and instructions are completed much quicker (cycles).
Strictly speaking the last true x86 CISC was the 386. The 486 already used pipe- lining etc.
This means that some games might "stutter" on a modern system, even if the cache is disabled or if the CPU is slowed down to 386/486 levels.
A period-correct 386/486 system by contrast might be running the game "slow" but more smooth.
Think of games in style of Wing Commander or Commander Keen IV, maybe.
Anyway, what differs more is the architecture of the mainboard, the chipset, maybe.
286/386/486 are clean PC/AT platforms with ISA bus and no Plug&Play and no advanced features such as USB, PCI, AGP or ACPI, APIC (586+ CPU).
This means that there are no newfangled things in the 640KB-1MB area, no unwanted ROMs.
Without ACPI, the IRQ 2/9 remains unused and a vintage network card or an MPU-401 can use that IRQ.
Since it's an ISA or VLB system, likely, the installed graphics cards are old enough to be still truely VGA at the silicon level.
The models are being recognized by the games or applications directly.
Trident 8900, Tseng ET-4000, WDC 90C00, Cirrus Logic etc.
Then there's the look&feel. A 386/486 PC is a classic late 80s to mid-90s system.
The case is a standard beige model (black ESCOM PCs and the Colani series like to disagree), the CRT monitor likely is a 14 to 15" model, big beige speakers do sit on the desk.
A standard beige AT keyboard without Win95 keys is next to them. Mouse is a two button model (no scroll wheel) or a trackball..
Printer is an HP Deskjet 500, maybe.
Of course, these are all not critical aspects.
In most cases, a Pentium with an old PCI graphics card just works same in practice.
In fact, many PCs in the 90s had been assembled from various parts or upgraded over the years.
The Super Socket 7 mainboard of a Pentium 75, 90 or 133 MHz or Pentium MMX was not seldomly installed in 486 era towers.
There were many Pentium 1 systems that still featured a 5,25" 1,2 MB drive and a streamer drive.
What I like about using old systems is that they allow me to dream.
They give me an idea how developers must have felt when they had worked when they wrote their games or applications.
It's like using a Macintosh 512 or SE from the 80s instead of an iMac G3, I guess.
To me, it feels so much more real when playing the early games on a setup that's at least sufficiently authentic (I'm not a fan of absolute period-correctness either).
"Time, it seems, doesn't flow. For some it's fast, for some it's slow.
In what to one race is no time at all, another race can rise and fall..." - The Minstrel
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