One thing I tried when I still had an hi-end Amiga with 060 and graphics board was to reinstall Workbench with minimal addons and original icons in 4 colors.
The speed was amazing and I think that the original icons look fine. There was something elegant with such a 'scaled' down workbench, almost like comparing TWM with KDE or Gnome.
I think a good tradeoff is to run MWB since it is only 8 colors. I have seen people running NewIcons on 020 systems, ugh, I remember when I tried it on my 030 system, it was slow as hell, couldnt stand it at all.