It would be at best comparable but I guess in general slower if the claim of 48x CD is real(that I have no idea).
48X claim is only on the edge of the disc. Also, at less than a dollor, a cd is a lot cheaper than flash ram.

You could look at some of the lighter remasters, copy the cloop compressed file, then boot via a bootfloppy (if the floppy searches the flashram, I don't know), and see if it works.