Hi!
I mentioned QEMM because some DOS based Sierra games (without the DOS Extender DOS/4GW) need alot of free memory. I almost always use the GM/MT32 emulation driver for the SB AWE32. When I play a game like Betrayal at Krondor I need a little more than 600Kb free memory. I only seem to get that many free mem with QEMM 😉
I also prefer WIN95 because of the fact that nowadays there are a lot of drivers/patches made by Sierra fans. These drivers/patches work better IMO (or only) with WIN95 or above.
You should probably experiment a little with several setups to see what works best for you. If you decide not to build a computer for (old) Sierra games then you should definately check out DOSBOX…
Grtz