I played around with Bochs and NT4, just one more NT4-related issue than an emulation issue, but if you have an NT4 install disc, you're going to have to do a lot of patching. It seemed to me that in order to get most current software to install on it, I needed to pretty much upgrade all the way to SP 6A in order to run much of anything.
But yeah, NT4 does have pretty light requirements, which is good. 🙂