Did some trash picking and ended up with enough parts to put together a different testing machine:
AMD Athlon XP 32-bit 2900+ (2 GHz).
2GB DDR-2 400
Via K8 mobo
nVidia GF 5200 FX
The hardware is old and I'm not sure if it's 100%, so won't complain about issues that could be hardware related.
Installed B0.44, Fulliautomatix, and found that it works very well: Boot splash on first reboot, direct rendering, powers down and things are in pretty good shape. Networking tests good and multimedia files play.
Only thing worth mentioning is that on a 40 GB HDD it left 1.8 GB of space unallocated, at the end of the drive, after the main ext3 partition and the swap.