i used to have a 600mhz celeron, 128mb ram, and 8mb onboard video. (given this is a LAPTOP). anyway xp seemed pretty good, actually pretty fast for its speed, but then i put antivirus and i swear to god when i booted it up it took about 5-10min to get to start-up. (NO JOKE!) dont get a celeron for xp (their cache sucks and slows it down). so in the end i sold that laptop and bought the exact same laptop on eBay 2 months later (go figures) but this one has an 800mhz celeron, same ram , same vid. ill tell you how it turns out ;)
course right now this is my comp...
1.8ghz amd sempron
2gigs pc3200 ram
80gb hd
ATi Radeon X550 256mb pci-x16
Windows Vista Ultimate
With a PC this THIS maybe i got a little speed crazy and dont have the patinet for older computers, but then again im not a patient guy ;)
UPDATE: hers a bench mark test for comparision of speed... http://www.activewin.com/reviews/hardware/processors/intel/celeron850/bench.shtml
as you can see the 850mhz celeron is gettting 0wn3d by the 866mhz pIII. like it says celeron is a value cpu, but nowadays you can by anyone of those processors with the spare change in your pocket. itd go with the pIII without a doubt ;)