This. I literally rebuild DOSEMU yesterday after years of not using it. It used that mode extensively.
A good thing about DOSEMU against DOSBOX is that the first could run high end DOS game at amazing speeds as the environment was more like Wine than emulating the whole machine, so you could run Tomb Raider, Need For Speed, Duke Nukem 3D... on a Pentium II while 'simulating' a Pentium MMX or a Pentium 90-like speeds, if not more, being far closer to the performance you got under W95/W98.
And, as you said, booting SvarDOS either from a floppy or from an IDE->CF card it's straightforward.
You can just run MS-DOS or FreeDOS directly on those machines, that's what the machines were made for.