I suggest:
1. Install Phase5 040/060 libraries
2.Install updated math libs
3. Use Fastrom, enable all caches, Fblit
Also, try a Workbench replacement such as Dopus 5.5 Megellan or Scalos (or whatever) to get multi-threaded WB experience.
Other patches would only give minor perf gains. A faster processor, HD, gfx card etc would make bigger leaps in perf. than a 1200 would.