The 350 mhz - 400 mhz versions of this can be expanded to a gig of ram, slap a new IDE hard drive in there and it will run OSX tiget FASTER than os9 would ever run. OS9 is dog slow no matter how you try and run it.
OSX is actually faster. The key here is the ram. Anything online is going to be a problem the heavy use of flash coded to run on faster CPU's will slow down anything online. Non flash won't be a problem. Safari will be slow no matter what.