If you insist on Linux, do say a Debian or RH install over network. What HDD size you got u never mentioned?
Personally I use FreeBSD floppies for one of my old laptops with no CDrom (now a server), boot off floppy, install over network, takes about 30-60mins depending on speed, and bam you got yourself a abse system, thats on a pentium 1, 120mhz with 40mb ram and an 800mb hdd