BITMAP = OFF was a nice idea, but it doesn't produce proper screen displays.
I would recommend you do not use it.

We have not found bandwidth to be a problem internally, but have no dial-up users.
I would expect 128K to be adequate for one or two users, provided they choose the Slow Network option when making the connection.

If all you have is 128K then you will not be able to connect many users.

Does the program run fast enough if you run one user at the termianal server?
How about if you have many users on your LAN using terminal server client?
We found that 30 users were enough for a 3-processor Xeon server with 1Gig of RAM.