Just got VT4000 in my A2000, so this is from my experience. I have 1Mb chip RAM and 6MB Fast RAM with 030 25MHz accelerator with 3.1 ROMs. The VT4000 works with these specs, BUT there are limitations.
1. Free as much as possible from chip RAM, like lower the WB resolution with 4 colors, remove 2nd floppy drive etc. Megachip is probably needed to get better performance.
2. Some effects will not work, not enough memory error.
During my install I found the hard way these limitations, one of them was the Chip RAM. The system would reboot during toaster start, I could not figure it out. Then I played with resolutions and found out that it works with 4 colors, not 16 which I had.
Also, I think you do need RGB monitor, w/o it you will get " toaster Can not sync" error.