Check out Feather Linux [http://featherlinux.berlios.de/download.htm
] , it's 64MB with a GUI and detects all your hardware. You can run it from a CD or install it to HD. I'm using it on my 150Mhz 32MB ram Laptop, runs great.
the ISO you need to download is thus only about 60MB :P,
Also, i know my laptop is stretching the limits a bit regarding distros, but i must mention i could not install Fedora on it [it wanted 128MB memory from the start], Mandrake 10 had no problem at all and it could install full installation with a light-weight GUI [fluxbox or icewm] and it worked fine.