I installed and used BetterWB on an A1200 with 4MB RAM and 3.0 ROMs the other night, it works fine.
I'm working on my own Workbench pack with all the programs you need pre-installed, it's just taking a little time, but it's going to be a community project where people can contribute. Similar to
ClassicWB and
AmigaSYS except with more user input. Anyway, I think you should download and try both of those setups too. You can either install them on separate partitions, or just do the old swap-around and keep one system inside a temporary drawer while you boot from the other. But try them both, see which setup you like more. Both are packed with pre-installed software and are worth trying.
BetterWB is more of a bare-bones system add-on, it's useful but you will still need to install all your own additional software.
