Whoa, today I had a privilege to test two new releases: Mandriva 2008 and Ubuntu 7.10 Gutsy Gibbon. The reason I'm writing my topic from the first one is that I could not boot up the system with the Gibbon.
Statistics:
492 MB SDRAM
950 MHz Intel Celeron III
NVidia Vanta 16MB

MP3 files are running with the liveCD, Gimp 2.4 works too.
Great!

Edit: I succeeded with Gutsy too. It took more time. They've fixed the issue with Realtek 8180L wireless card