distro (muLinux) for REALLY old laptop?

[Bungo Pony]

I've got an EXTREMELY old laptop just kicking around. It's a 386 SX25 with a roomy 350M hard drive and 4M of ram. It's currently running Win95, and it runs not too badly.

I looked through the list of Linux distros for really old PCs, and it looks like the one that would run even half-decently would be muLinux. It's tempting to try it out, but I'm also debating if I should wipe a working OS to possibly replace it with a non-working, slower OS. It doesn't have a CD drive (and I don't have a Parallel backpack to use) so I'd have to likely install something else if this doesn't work.

Does anybody have experience using Linux on such an old system, or even muLinux?

[init1]

I read somewhere that muLinux can indeed run in 4MB of space. This surprised me quite a bit. I tried running it from the el torito live CD on my newr laptop but it didn't work. I've never used such an old computer and thus have no experience with that sort of thing. The oldest laptop I have is a PIII. Personally, I would either keep win95 or install FreeDOS.
www.freedos.org

[mips]

http://ubuntuforums.org/showthread.php?t=575456

[darrelljon]

I imagine muLinux would be more stable and secure than Windows 95.