If you want to run Linux on it, I agree, aviod Lindows.
Actually aviod lindows, period. Fedora is better in almost everyway. But that's just my opinion. Actually neither of them may work at all if they are compiled for 686 and above proccessors.
If you want to try Linux out on these slow computers and want to have a usable desktop check out
vector Linux
It's based off of Slackware linux and is specificly optimized for slower computers. It uses light-weight software when ever possible and sacrifices on eye candy.
However even then it will run reasonably fast, but coming from Windows it probably will be dissapointing in the functionality department.
On slow computers you end up using the command line more then anything, and for that those computers are plenty fast. However for a person not familar with the software beforehand your probably be better off with Windows 98 on it.
But if you realy want to give it a try it won't hurt anything, it's free.
(or debian with a lightweight Window manager)