Try with a little windows xp installation (tinyxp...) and winuae.
I agree that you should switch to the smallest Windows install that you can get to run WinUAE instead of EUAE. To my knowledge EUAE still does not have JIT like WinUAE does and that will help you a lot in running on slower, old x86 hardware. I used to run WinUAE on a 533MHz Celeron laptop, but admit I was not running WHDLoad on it at that time.
