To be honest i dont see why people would even try to use os4(4,1) on a classic computer . Like you say it cant run anything that bangs the chipset, jit is an option but like you said it does not run all that well on a ppc under 800mhz. I never had or will have any hopes of running os4 that time has passed and wont be going there again.
The problem with the amiga 1200 is that the only gfx option for a "wedge" is that bvison. To bad nobody never made another acc board with a small cool ati chip or something.
I have never really felt that the permedia chip was any great but with the medaitor and a tower the amiga was usefull (3d performance was not all "that" bad either). I cant remember my intel 233mhz with a voodoo card being that much faster.
I hear you say in your rant about not using the amiga on the web, well all i can say is that you dont use it for netbank or heavily scripted pages.
But for forums and download pages that are not only aminet works fine. Its faster to download direct in stead of walking up to your pc and do it from there then transfer the files to you amiga with those awesome ide speeds.