old board, either 1 or 2 (2megs with expansion). new board had 2megs I believe.
I once had a picasso IV (picIV is also ZII compat.) running on an A1200T/060 w/ a micronik ZII bus-extender. It was pretty quick at moving windows around, items refreshing, but if you had many 1280x1024 screens open you could notice that when switching screens, it was choking due to the ZII bus speed. If you keep it at a few screens or have a decently sized Workbench screen to hold apps (things like ImageFX can be made to run on the WB), it should be reasonably fast.
I haven't used a Pic II on a ZII bus, but it was designed for it, so it should be a similar experience to the above.