You can also play old 16-bit Windows games in DOSBox if you install Windows 3.x in DOSBox. Of course you'd need a copy of Windows 3.x to do this VOGONS :: View topic - Windows 3.1x DOSBox Guide
And it is possible to install Windows 95/98 in DOSBox but it's easier to use Virtual PC (Windows Virtual PC: Home Page) or some other virtualization program