Wow it's a lot slower now than it is with 1992 Linux. I remember a key benchmark was how long it takes to compile the kernel (and was astonished at how fast Pentium-Pro was when it came out).
I had a 486 with 16 megs of RAM and was able to browse the web (Netscape 1.0!), compile kernels, and have something like 8 people logged in remotely checking email.
Software has gotten much bigger...