32MB of ram is a little short for most window managers... I just put Xubuntu on a PIII 450MHz 256MB dell over the weekend with no issues, though it was grinding away using swap space for everything. If you're not afraid of some involved work, I'd almost steer you towards FreeBSD and then throw Enlightenment (window manager) on it, but that's arguably a lot of work. You should try a CD of Elive, see how that runs (http://www.elivecd.org
). Unfortunately Elive is quasi-closed source (donation required for an actual install).