It will boot as I have tried it before. But .. erm, it will take a very long time to boot, let alone to run its services, and any other task that you are going to do. For the time that you will waste in waiting for the computer to perform the functions that you want it to .. let alone to install and patch it, : ( ain't worth it and does not justify at all.
Advise: Stick with Win98SE if you're gonna run on Celeron 300. Even Win2K would be too much resource taking for the poor Celeron processor.
If you're gonna do it anyway, the least you can do is upgrade your RAM. 128MB is the minimum recommended to run XP, and 256MB is actually encouraged. For your system, I would put in at least 256MB more... or the max your system will take. Since it's a 300MHZ, it probably won't take any more than 512MB. But anyway... you need to upgrade the RAM, otherwise don't upgrade to XP period.
Indeed .. different people have different perspective on how well a system is running. I even installed Win XP into a Pentium 233MMX with a 512MB RAM PC and it worked just fined. Had Office XP running too, but the workstation is basically for word processing, typing some letters and assignments, and definately surfing the internet. It was a Siemens Nixdorff if I am not mistaken : )
Ep, glad to see you come back and tidy up...did want to ask a one day favor, I want to enhance my resume , was hoping you could make me administrator for a day, if so, take me right off since I won't be here to do anything, and don't know the slightest about the board, but it would be nice putting "served administrator osnn", if can do, THANKS