Did you clear out all the junk Compaq loads each time the computer starts. I bought a Compaq 5838 that would suck resources dry just booting it. I boosted RAM to 256 MB and disabled all the junk loaded at startup...all the compaq tools and diagnostics are unnecesary. Made a big difference.
Also, NT/2000 handles memory much better 98/ME. Noticed a big difference when I switched.
I dumped most of it, but can't tell what all of it is. I scared to switch to a new software platform for fear of compatibility problems. I still have my Windows 98 disk from the Gateway . . .