Well, your phone should definitely be fast enough. You could also try fixed cycles, like e.g. cycles=80000, but that will probably cause slowdowns and/sound issues at least on some occasions.
Here’s what I’m using to run Commandos and Diablo 2 on my phone, maybe these settings can help?
[dosbox]
machine=svga_s3
memsize=32
vmemsize=8
[render]
frameskip=1
[cpu]
# valid core are: normal, simple, full, auto, dynamic
# dynamic is the fastest and optimized for the ARM processor + works with Win9x
core=dynamic
# new paging methods from MB6 & Ykhwong SVN introduce new cputype settings:
# valid cputypes are: 386, 486, 386_prefetch (*), 486_prefetch (*), pentium, pentium_mmx
# (*) = requires normal core setting instead of dynamic
#cputype=486_slow
cputype=pentium_slow
cycles=max 105%
cycleup=500
cycledown=500
isapnpbios=true
[sblaster]
sbtype=sb16
mixer=false
oplmode=auto
oplemu=fast
oplrate=22050
[mixer]
rate=22050
blocksize=512
prebuffer=0
[dos]
xms=true
ems=false
umb=true
keyboardlayout=auto
[ipx]
ipx=false
[joystick]
joysticktype=none
timed=false
[midi]
# Only enable MIDI if you have the necessary MT32 ROM files
mpu401=none
mididevice=none
[speaker]
pcspeaker=false
tandyrate=8000
tandy=false
pcrate=8000
disney=false
[gus]
gus=false