Hi,
few things here. Seems like you are trying to install a recent version of RedHat (7.2) on an old PC. Well mostlikely you'll have compatibility issues with the hardware. If you are going to invest the time to find out what type of hardware is in it, I'd get my hands inside the PC to find out. Also, you could try to install an older RedHat distro version, say 6.1. It all depends on how much time you want to spend making it work.
One peace of advise. If I were you, I wouldn't trash it. Keep it and experiment with it. And, yes I'd also get a newer replacement for it.
Good luck!
