WB3.9 will be slower than OS3.0 but it's not too bad. I wouldn't recomend it for a 020 user but anything above 030/25 will be fine. Glowicon does eat more graphic/chip mem but it's ok looking in 16/32 colors and you can go for the option of haveing graphic using fastmem to save some precious chipmem if you don't use a graphic card.
Only reason I use OS3.1 on my A1200 is cause I have 3.9 on both my A4000 and I want to have a bit of a varraity... also my A500 and A600 uses WB2.1... hmm... need to get something to run WB1.3 though, even if I don't like it a hole lot.
ROM39.106 is 3.0... But as you have a Blizzard turboboard you can use blizkick to softkick ROM3.1 in your machine if you like.