that cpu is not a good option to run current apps when compared to the slowest celeron at 700 mhz an, the ammount of ram is low when compared to a smartphone that at minimum comes with 160mbs
even a web browser will use 30 mbs of ram just to open and kernel with de will need at least 50 on puppy linux
you have to put more ram so swap is not using the hard disk all the time
i personally wouldn't use a machine so old, i don't have enough patience or time to invest in a project that involves such hardware, it is nice to keep using old hardware but this is a 16+ years old hardware and to have a usable desktop you need at least a pentium III