Win2k uses a "Recycler" folder which contains hidden folders for each user account on the system. The "Recycle Bin" folder is not really a folder, it's just a link to the Recycler folder for your user name. If you have a folder named Recycle Bin (use a command prompt to look for it to be sure) and also a Recycler folder, then the Bin folder is leftover from Win98. You should be able to delete it, though you may need to modify the attributes and permissions for the folder.
It is POSSIBLE I guess that win2k might reuse the existing Recycle Bin folder on a drive that is installed but not formatted. If so, you can probably boot into DOS with a floppy disk and delete the folder there, and Win2k will create a new Recycler folder.