Running older windows versions on Android
I guess you could try running windows 95 or older versions inside DosBox.

Of course this would require some knowledge on MS-DOS stuff and some patience and skill..

Here's a good tutorial on how to boot win95 on DosBox. http://vogons.zetafleet.com/viewtopic.php?t=24936 I would suggest you try this first on a desktop machine with dosbox.

Another way would be to run it using QEMU for android http://www.mobilephonetalk.com/showthread.php?63990-QEMU-for-Android-Runs-Any-OS