I have
Althon 800
Hercules Geforce 2 Ultra (Using 6.47 leaked drivers)
Abit KT7 RAID motherboard
256 MB RAM
2x 30 GB IBM Harddrive (in RAID)
Creative SB Live! DE 5.1
Win 2k SP1
I run Combat Flight Simulator 2 at between 30 - 40 fps at 1600 x 1200 32 bit colour high quality without any problems.
The main checkpoints to go through are:
Download and install SP1
Get the latest motherboard chipset drivers. I assume the K7M uses the VIA chipset? The latest official drivers are at www.via.com.tw
There is a microsoft patch for poor AGP performance in Win 2k (although this mostly for crashes). Search for it in the MS query database at www.microsoft.com
Do you get any problems with other games?