I *think* it will run PM at acceptable speeds. Maybe 2xIR. Not sure about SSBM.
I suggest grabbing the latest version and trying it out. If you find specific problems, please post here and then report them if necessary. That helps the project and community instead of sticking to an old version. If you find that the latest one works, feel free to stick with it awhile until you have a good reason to upgrade again (bugfixes, new features). If it doesn't work well, you might go to an older revision or even the 3.5 release.
SSBM uses AX ucode, so it will benefit from 1128 and later.
There's no need to download the very latest daily unless you enjoy testing and using the latest features.
I suggest grabbing the latest version and trying it out. If you find specific problems, please post here and then report them if necessary. That helps the project and community instead of sticking to an old version. If you find that the latest one works, feel free to stick with it awhile until you have a good reason to upgrade again (bugfixes, new features). If it doesn't work well, you might go to an older revision or even the 3.5 release.
SSBM uses AX ucode, so it will benefit from 1128 and later.
There's no need to download the very latest daily unless you enjoy testing and using the latest features.