If you want to run a GUI with linux you will need more RAM than that. i ran RedHat 7.2 reasonably on a similar machine, but again more RAM would have been nicer. If you dont need a GUI then you will have no problems with any of the Linux OS' mentioned - or any that i know of.
As far as windows goes it is actually pretty good at running on low end machines - i also ran winXP on my PII with 64meg ram with no problems, ok i had to change some of the interface settings to increase performance but this is easily done through the control panel.