GOOD NEWS, I think I found the problem, (no freezing, up %100) :-)
The problem was something related to wireless usb network adapter. I had 2 usb ports in my pc, I added another pci 2.0 4 port usb card later on. The zydas wireless nic was connected to 2.0 pci addon card, just changed it to one of the onboard usb ports. I had a latency problem with my mouse in the game also, now all gone. I am up 100% with my quake 3 running on Mandrake 10.1 and it is faster than my windows quake3...
A few tips about installing nvidia drivers; I followed procedure at
http://jennings.homelinux.net/nvidia.html each time i tried to compile drivers, I got kind of kernel mismatch error. I was sure my kernel-source was correct so checked readme file comes with drivers. found that to be able to compile drivers you should turn off PnP OS option in Bios and enable IRQ for VGA support. Then drivers compiled normally and I was able use gl support for games...
Another thing if you have problems with Punkbuster make sure you use pbweb.x86 file to update it. Dont spend time copying punkbuster files manually because IT doesnt work even if you copy all the files.
Good Luck All....