no, it doesn't. i use fluxbox on my slow (400mhz) laptop, and it's fantastic. very customizable. you can use konqueror or nautilus if you install the required libs, but it'll run slow on that box. once you start adding desktops, drag/drop, etc it starts slowing down. as mentioned, you can add hotkeys for your common apps very easily, and it really makes the menus slow/obsolete in comparison. maybe check out midnight commander or similar for a quicker fm. fluxbox/firefox on the aforementioned laptop runs fine, btw.

I knew i shoulda mentioned some....

Well, there's Ion2, Ratpoison, Fluxbox (stable), Blackbox, twm, jwm, evilWM, wmi, and aewm. All of these gave me better performance than Ion3, and most are also smaller.
This is not to say that they are all as useful, of course. For example, while i like evilwm for its speed and size, its keybinding is relatively nonexistent.

I just finished installing debian on a pentium-133 with 32mb of ram. I haven't installed + configured X yet, but its going to be Openbox all the way. Fluxbox is good too.

OK, ion3 requires for 4 Mb (with additional scripts and remote control feature)
and about 10Mb of RAM
Can anyone show the such information for XFCE and {Flux,Open,Black}box?

Concerning performance... Uhm, I do not know any way to compare it Anyway it should be about equal with each other.
Another point is how are these WMs configurable. Ion3 does it very and very well. E.g. several hotkeys (by default: F1 - man, F2 - terminal, F3 - execute any app, F4 - log in through ssh...). Scripts are written in Lua.

I do not think Ion3 is best, for it's too different for average user and, probably, hard for beginner. But I use it and I am sure it's best for me. So I'd like to check it, therefore my statements above

Very good, Ygrex.
This will make the discussion a lot more constructive.

Now I am sure dillo is not install worthy, for links2 does everything dillo can and more. And also links2 is not given up by its maintainers. Links2 definitely looks better.