Last night I decided to have a go at seeing if Windows 3.1 would run in dosbox. Surprisingly it does, and pretty quick too, you need to download the dos mouse driver and run that before starting windows but other than that it works. The install was pretty quick too.
Windows 3.1 running in DOSbox
I copied the folder i have all my dosbox items in over to the pi and tried this on that, you need to run dosbox through x in order for the keyboard to work properly (or it seems by default you do) so this slows things down, dosbox will run without X but the keyboard mapping was seriously messed up,
I guess this being a more proof of concept idea as I am not really sure what I would need windows 3.1 for, mind you there was an excellent periodic table program with decay trees for elements which was pretty good. Kinda out of date now as since then we have discovered and named more elements, and named beyond their initial Latin numerical names.
http://www.nikeairmaxfreerun.com air max 95