I can’t remember if I linked this before or not, so here’s Windows 2000 on 32 MB of RAM.
Of course I find this interesting. And his advice is pretty good. My first choice for an OS in 32 megs of RAM would be Windows 95, and probably Windows 95a at that (and gee, some idiot wrote a book about that), but if you need better reliability and stability, Windows 2000 is a good second choice.
One piece of advice worth mentioning that he didn’t mention: If there’s a modem on the system, lose it, especially if it’s a Winmodem. That’ll save lots of precious RAM and CPU cycles.