I will join you on that. I had an IBM T43 (Pentium M, 1.5GB, 40GB) as my daily driver from 2007-2010ish. All I could do is browse the web. Thing ran linux like a champ though!
If I was a 14 year old kid and had that system, i would have been stoked. There are games out there I can play on it, but then i saved up (took me 6 months making $6.25/hr) to build my first gaming computer only to have the power supply die and take half of it with it.
Edit:
Look into getting into emulation. You will be amazed at what is out there. Playstation has some fantastic games on it. Go play the original final fantasy 6 or 7. Maybe some persona. Hell, you got good old crash bandicoot.