Laptop Love

[w00t]

I'm thinking about buying an older Laptop. I'm looking at something with a Pentium 166- 300 CPU, 32 MB RAM, 4 GB HDD, CD-Rom, Floppy, Etc.
It would have a light distro of linux and Win 95 for compatability.
My question is: Would an older laptop be able to handle my coding and compiling needs adaquately?
I don't want to spend too much because it would be going to my High School with me (risky, i know), and I don't want it getting stolen.
Any recomendations on this?

thanks,

--w00t

[redhead]

I have an old 386/33mhz with a light debian install, it seems to do my job, then again, all it has is vi/gcc/ssh
Another one I'm using is a Celeron 333mhz with 64mb ram, it's running RedHat 7.2, with fvwm/apache/mysql/emacs/etc.