I have a compatible DOS setup right here.. Intel BX board (Asus P2/3B series), AWE64 sound, Matrox G400 gfx (has VESA 3). And the fastest CPU for mainstream ISA boards, Tualatin Celeron 1,4g (running 1,6g ~=Athlon 2K). Very compatible when booted into DOS, rock-stable workstation.
As for the OS, PC-DOS 2K is fine but does not support FAT32, 512mb etc... Better to use DOS 7.1 which was distributed with W95b/98/98se. The multiconfig via config.sys also works to separate the DOS from the windows, I'm sure there are guides on the web.
Well, that's about the best DOS system you can put together. Biggest obstacle would be finding the right mobo/cpu/adapter combo. BX boards had varying capabilities to support the last Tualatin CPUs and often require an adaptor. Othwerwise the top end is the 600 P3-Katmai.