Re: The common question - Low Resource Distro?
Slax, based on slackware works great. It is one of the few distros that handles ACPI on older bios out of the box. It is installable. I did have a problem with the install because I did not use the suggested LILO. I installed it in a multiboot. I installed ubuntu afterwards expecting grub to pick it up. Grub did pick it up, but it does not log directly to GUI. It booted to CLI first.
I think slax 5 is better for older hardware vs. slax 6.
Others to consider, especially with 256meg,
Ubuntu 7.10 works great on my pent2 400mhz with 386meg ram. I could not believe it. I still have to sort out ACPI to properly shutdown without hitting power button.
Nothing is ever easy, but if it is difficult you must be doing it wrong.