For me the best experience in an A1200 is an 030 turboboard with 16 or better 32 of RAM. A lot of speed for the most things, even most of the newer games will work like a charm and not big costs at all. A harddsik or better CF ist obligatory me thinks.
But for the beginning, as already someone suggested, you will have a nice experience also with your machine. Go to the limits and probably then invest in all the cool stuff you need.