If you've only got 1GB RAM, Guerillase7en , you certainly wouldn't want to run a 64-bit distro. You won't get any measurable performance gain and you're just buying yourself problems with applications like Wine, Skype and Acrobat Reader, which are still only available in 32-bit version. On your system you will also want to avoid the bloat of a full KDE or Gnome under the bonnet.
I would recommend a lean and mean system like Crunchbang Waldorf. See http://crunchbang.org
Like LMDE - it's based on Debian "Wheezy" so it's a rolling release, but it's not Gnome-based. It comes with a simple OpenBox windows manager.
The 32-bit PAE ISO is the image you want, you can run it live before deciding to install it. The raw OpenBox WM may be a bit overly spartan for your taste,
but it's easy enough to install LXDE - which is OpenBox-based - on top of it. Just get the LXDE metapackage with Synaptic. Remove Conky whilst you're at it and you won't have any additional drain on your PC resources.
One of the machines I've installed Craunchbang on is an early EeePC701 and it's running on steroids! Definitely worth a try.
With Linux from 1997 (Slackware, Caldera, Red Hat, Mandrake, (Open)SuSE, Poppy, Ubuntu, CentOS) currently Mint LMDE & 13 Cinnamon w. LXDE desktops