Try the cmd version again. This time, add the -verbose switch to the end of the command line. If you don't add this, it will appear to be stalled, but it's actually running. I have the same CPU@868 and my times under 98SE are about 6-6.5 hours.
If you're gonna use the GUI version, be sure to blank the screen 1 min after you have it set to come on. I normally set the screen saver at 7 min and blank screen at 8 min. Most users don't complain about this.
RE: ram timings, I have found they don't make a huge difference. Depending on system, maybe 10-20 min faster at 2-2-2.