It runs fine on my 486, Don't know why so many people are having problems.
Also, that MB you have was a bad design by ASUS. They used cheap parts from china and I believe the bulk of the boards were made in Mexico. I'd be for ditching it and getting an EVGA or Gigibite board. Although ASUS has improved its quality a bit, still not sure if I'd trust em or not after my experience with them.
Oh ya, nothing wrong with XP either. But do get Win 7 and an SD drive to boot it from. You'll be so much more please with it than XP especially if you up your memory. (DDR 2 is dead btw.)