Without having read the other replies to your question I'll say that RedHat 
7.2 is a good solution.

I installed RH on a similar Machine P200, 64 megs of mem, but I had a total 
of 4 gigs of space on 2 hard-drives.

A 'workstation' install takes 1.6 gigabytes, more or less, but you can cut it 
down to less than 1 gig depending on what you want and/or need.

-- 
Samir M. Nassar
RedConcepts.NET