Mara, if it were that simple, Linux should've taken over
the desktop market.
Oh yes, install it. Boot the CD up. Choose recommended.
When asked, pick HD2. The things you should pay attention
to is install bootloader. Pick Grub. Edit the menu so
Win98 is default. Timeout is 30 seconds. Install Grub on
MBR (first sector of HD1, normally /dev/hda). Enjoy!