Decreasing RAM size and Processor speed possible? (on a simulator?)

My system’s a 1.5GHz Celeron with 256 MB RAM…I now have a few projects which I would like to test by decreasing the Processor speed and the RAM capacity…

I have two possibilities that I can think of:

  1. Re-compile the linux kernel and set the mem parameter to use less RAM.

(kernel (hd0, 7)/boot/vmlinuzmfc
noinitrd nomce root=/dev/hda8 rw selinux=0
resume=/dev/hda7 mem=8MB init=/bin/login)

  1. Use a simulator?? (like bochs - to simulate a processor with less speed??)

If any of you could suggest something…it would be of real big help…