You might actually be better served using 98SE. It doesn't handle everything that XP does, but it's likely to run faster on your hardware. If you can manage it, it's also really a good idea to streamline and customise your installation. Plenty of info about that online.
P.S. also make sure you wipe you hard drive before new install. Sorry if the advice is condescending, as I don't know how advanced a user you are.
Hmm, while I'm off the topic...I was called up to fix someone's computer recently (not my job, but do it sometimes), for which a 'qualified computer technician' had just installed an infernal modem. I booted XP, and tried all the usual things, but couldn't get it to find the modem, not even with manual installation. I opened up the computer, and was actually stunned for some time, not comprehending what I was seeing. The modem card was screwed into the chasis, taking up one of the lowest positions in the case, but it was a micro atx mobo. Damn, I couldn't believe it. The card was just floating, suspended by the case, not even anywhere near a socket. When I realised this, I had a really good laugh. This job was done by a 'PC technician'. I told the owner never to let that techy any where near their posessions ever again. As it happens, it was an ISA card, for which their was no slot, and the 'technician' just told the owners it would be fine. Gee, I never realised those 'computers for dummies' titles were so aptly titled.