...I'd be all in (the only computer that can run civ3 in my house is about as stable as a house made out of cards balanced on a highwire - and it's reeeeallly slow to boot).
I have already completed a game exactly like you said in civ2, and am currently in the process of completing a second.
what is sucky is when you start on a small island though :/. Slows down your expansionism a whole heckova lot when you have to research up to Caravels just to get your 11th city (I had gone up other trees and realised too late my mistake).
Have fun with it, the other two games were a blast to read about .