If you really want a good Windows 3.1/WFW 3.11 experience AND you are running a Windows host OS use MS Virtual PC 2007. No weird mouse jumping problems, copy/paste works well and you can choose video drivers with resolutions up to 1280x1024 32bit. I still have a VM that I like to fire up every once in a while when I feel nostalgic.
Like many others here I used DOS for most of my tasks, running Windows only when I needed fancy fonts or graphics (MS Publisher for Win 3.1).
I also agree with those comments comparing Word back then and Word now. A few more features were added but the resource requirements have increased by unprecedented amounts. Think about it. You were using Word back then in Windows 3.1. You time travel from 1994 to 2012 and are shown a modern era PC. Wow, cool flat screen! You fire up WIndows then Word and after checking them both out you ask, "Cool, what else does it do? THAT'S IT?!?". I'm going back to 1994!"