Or Qemu without virtualization (or DOSBOX-X) with W98SE (or the libre floss way with Damn Small Linux, Dillo and setting up the proxy as you said to the ones of

Or Qemu without virtualization (or DOSBOX-X) with W98SE (or the libre floss way with Damn Small Linux, Dillo and setting up the proxy as you said to the ones of protoweb).