You also will need like a 486 based Fresh FMT with HD install and stuff to enjoy that game in its arcade glory. on the 386 based it doesn't really provide much of the arcade fun anymore.
lol, Splatterhouse was only ok? It was by far the best port of its time, and can be considered as a 1:1 arcade port.
If you run it on a 386, even a tons of RAM wouldn't improve a bit. So you need kind of a 486 Fresh or higher. But I am no Towns expert.
At the time maybe, but the Sega 32X version looks and plays better, especially if you have an XE-1AP pad... The FM Towns is a nice console but a lot of games have versions on other machines like the Playstation and Saturn which do play better now, a lot of the adult themed games are available for a lot less money on the NEC PC-98x1 and other games have dated (Turbo Outrun was a horrid conversion even back then and it looks awful now...) and some do feel a bit of a grind to play (sorry wheelaa but Splatterhouse is one of these games...). Some games are now probably cheaper to buy and play on the original systems, Fatal Fury Special and Viewpoint for example... Although the FM Towns is a nice machine and from a collectable point of view it is a fantastic machine, although in total it sold about the same number of machines the Sinclair ZX81 / Timex 1000 sold...
There are many titles that "start" on a marty but are completely unplayable (too slow) like Ultima Underworld 1&2, Wing Commander 1&2 or Kings Quest V. If you are looking for something special test the games before buying in UNZ with Marty specs. Titles i like (Marty) Splatterhouse Tatsujin Oh Loom Indiana Jones III & V Monkey Island Prince of Persia Sim City Operation Wolf New Zealand Story (boot different TOS before to avoid the Sound bug / Level 1 crash) Bubble Bobble Rainbow Island Kyu Kyu Ke Tiger Ku2++ (i only have the x68k version but i think FMT is also good) Raiden Taito Chase HQ Outrun etc... If you will really get into FMT gaming get a PC (486 at least) with HDD