6502 cannot multiply or divide (division is a costly operation even on modern CPUs) so I would use adding or subtracting logarithms for this purpose. 12-bit precision logarithm table requires just 8 Kb RAM (and you can get 13-bit precision with interpolation).
The disadvantage of this approach is that every time you convert a number from linear to logarithm or vice versa you get approximately up to 0.3% error (for 12-bit logarithm). So multiplying or dividing several numbers in a row is fine, but if you have to alternate multiplication with additions you will accumulate an error. So I would look for formulas that avoid this. But for a game a little error in calculations is not noticeable.
Also one might think that the most time-consuming part for pseudo-3D game is math and calculations. I doubt that. The most of CPU cycles are usually spent in rasterisation and applying textures. Is is easy to calculate positions of 3 vertices of a triangle, but it takes a lot of time to draw it line by line, pixel by pixel, and if you want to have textures this time can be multiplied 5x-10x.