[anthk]

Ah, sure?

1) Don't use Qemu from the kvm binary.

2) Don't use VirtIO

3) Don't set the CPU higher than a Pentium for w95/w98/NT4, Pentium2 may be fine for w98SE.

   >qemu-system-i386  -M help 
   isapc                ISA-only PC

   >qemu-system-i386  --version
   QEMU emulator version 6.1.0
   Copyright (c) 2003-2021 Fabrice Bellard and the QEMU Project developers

This should work for NT4

   qemu-system-i386 -cdrom $CDROM -m 32 -vga cirrus -net nic,model=pcnet -net user -cpu pentium -hda $DISK

Also, if qemu enables kvm by default, set the machine acceleration method to TCG.

Bye, "virt engineer".