Usually, packages compiled for i486 will perform very well on a Pentium, Pentium II, Pentium III, etc...
Compiling a package specifically for one architecture (let's say the Pentium III) only yields minor performance improvements.
Therefore, compiling Apache (for instance), specifically for a Pentium III is only interesting if you have very specific needs (and/or performance problems). Most of the time, these issues can be solved through a better configuration.
This is why, for instance, there isn't (yet) a specific version of Slackware for AMD64 processors: the performance gains do not (yet) justify a recompilation of the entire system.
Hope this helps!