I have just read my book on installing RedHat 7.1, and the recommended min Hardware is a Pentium II 300Mhz or equivalent (Celeron 360 works ok): 64 Meg of ram: 2GB Harddrive: 14" Monitor (SVGA) [ The GUI looks good on this or bigger]: SVGA Video Card with 2Meg Memory: CD Rom of any sort.
This info leads me to think that both your processor and video card are both just below the requirements. I guess you may just have to scrunge around and upgrade your junker a little.
By the way I am in the process of building up a junker myself to put linux on yet again. ( The Kids dont like me playing on my computer it restricts their chat time).
Any way I hope I have given some help towards solving your dilema.