Compatibility is a big deal, as I want things to work as simply as possible. So I gather the 030 is going to be the more compatible here? (as its seemingly just an overgrown 020, which the 1200 has a version of anyways)
If I were you I would look for an 030 at 40 or 50Mhz. But in your search, if you find a 1240 040 card just get that, it will work fine. If you use WHDload games, there should be no problem anyways. Some cards even have a disable feature so you can revert back to 020 for compatibility.