>> It'd be a challenge working with the limited resources
It's fairly simple until you get into things like different hardware and trying to do things with networking. VGA graphics, keyboard input, that stuff is all pretty simple.
Assuming something like a SoundBlaster, even sound programming could be done with a library.
It'd be a challenge working with the limited resources, but since most things run DosBOX, you'd also get cross-platform compatibility for free :)