Ubuntu Lite is a stripped down version of the popular Ubuntu GNU/Linux system. This is can bring the life to those old hardware lying around. You can check it out here, and download a torrent for an install CD here.
The default Window Manager is IceWM. It has Abiword and GNUMeric for the basic office needs. I think I would like to see it running on the old system that I have just to see it working.