PPC isn't that slow, it just isn't used for most operations, especially normal Workbench functions because they are written for 68k not PPC. You need software to take advantage of the PPC.
I've got an AthlonXP 1800+ and WinUAE runs like a dream. I've got cpu idle set so that the emulation never gets more than 33% of the PC cpu time and mp3 playing etc runs perfectly.