Vector Linux is a great distribution for old computers. I myself use it for my daily computing: browsing the web, email, write my papers and student essays with Abiword. At the moment it is my preferred distro to be used on a P1000 - it just works and even provides all the multimedia codecs I need.
The project has just released a new release candidate version of the distribution: 6.0 RC1 was announced yesterday. The release candidate uses a new graphical installer so that even the text mode phobiacs can now install Vector without experiencing fear, uncertainty and doubt. The default Window manager is Xfce4 and LXDE is provided as an alternative choice. All the media codecs and flash are installed by default which means that all the web and other media content is available out of the box.
Download the ISO from here and md5sum for the image here.