Will connect and boot up the old lady this weekend... if your screen goes blank after starting the monitor then probably the Picasso is sending at an unsupported frequency, you need to use the mode tool to configure the card for this.
Do you have another monitor option available? Like a small TFT used for a desktop PC? I struggled with a crappy old monitor as well, and my $90 Acer TFT worked without too much hassle.
edit:
The screenshot shows CyberGraphX installed, the menu bar shows P96. Is this of your system or something you found online?