I have a problem. I have tried repetitively to install MiniSlack Linux, which is basically slackware but shrunk. Here is what happened.
1. I bring the computer home, discover it cannot boot from the cd.
2. I try to make a floppy disk of a downloaded DOS version. Doesn't work.
3. I try to make an MS-DOS Start-up disk in Windows, doesn't work.
4. I go to the internals, find the floppy drive isn't plugged in.
5. Hook up floppy drive, insert Dos startup disk, It works!
6. Oh great! DOS can't read my CD-Drive! Now I'm ticked. So I post here and get two suggestions- use boot manager or use a Linux that fit on af floppy. I try both. Boot manager doesn't work in DOS, and the Linux that claims to fit on a floppy doesn't. Floppies are 1.44 MB, this was 2 MB.

My question is: am I screwed ? Or is there hope?

Use a windows 98 boot disk, or make your own and use the acer cdrom.sys & mscdex.exe to get access to your cdrom drive.

On my computer I tried everything to install several different distros ie:ISO,floppys,network
and I figured that DOS just didnt work with the CD-ROM because I had a SUSE disc that worked with my laptop but not my computer. Then I just bought the MEPIS cd and put it in and it instantlly booted up and was a snap to install, so it may work with a cd burned with professional media

Since the final goal is to install a Slack derivative, why not just try the Slack boot disks? You'll need 3 or 4 loppies and boot.dsk, install.1, install.2, and possibly the cdrom.dsk if your cd ewasn't recognized by the first one. At that point you ought to be able to mount or read from the already mounted CD rom and run the setup on the CD rather then from the floppy imge in your RAMDisk.

Also, i assume you mean by "will ot boot from CDROM" that you have checked both the plug for the CDROM and the BIOS to make sure it was both in the boot list and higherthen the harddrive, but just figured I would remind you. It may be that your system is old enough that is won't boot from the CDROM, thats believeable, my oldest laptop (which is also my newest :P ) dosn't even have a CDROM/NIC/Headphone jack/USB :P
Worst case scenario you can set up another machine with NFS, use the slack install disks to get up and running, mount the remote folder, call the install from the MiniSlack mount. There may be a few bumps on the road, but it's fresh in my mind so I may have some mor ideas for you too (just got slack onto the 50Mhz Digital laptop this past weekend)