Get a verion of micro xp or tiny xp, just search in google. Its design for running on VERY limited hardware
Agreed. With one of those "optimized" or "srtipped" versions of XP and an older matching set of mame and roms (think v65-v85) your games would fly on that machine.
I've gotten TinyXP to work on a P133 with 64mb ram with plain old Mame32v36 with classics like pac, dk, burgertime phoenix, ect ect.
Saved alot of old
Boat Anchors, as Spystyle used to say, from going overboard.
Another nice thing about these tiny or micro versions is that they come with driver packs that have darned near every driver for every piece of hardware that was ever made. So unless your laptop is some weird off brand, Tiny will automatically install all the right drivers for your hardware during the O/S installation. So when its done all you need to do is slap on mame, your roms, and your FE and it's ready to go!!