Remember this was 10 years ago when Win95 was still the newest kid on the block and 64 megs of RAM was a Grail of sorts...
I have Slackware on a 150 MHz 64MB RAM machine at home (workshop test box) running XFCE Window manager. 24-bit true color and alphamapped png icons, the whole banana; smooth as butter on a bald monkey. (KDE would really push it though...)