UPDATE
--------------------
Here are some images of my current setup.
I have 1 terminal server machine, and 3 clients. 4 when i stick that old 75 mhz machine in my garage

But anyway, here are a couple pics.
This is what a login screen on my computer looks like. 
.
.
This is what my desk looks like close up

.
.
This is what my desktop looks like. A few computers
The computer on the left is actually the usalug.org server. The next 4 comps are using K12LTSP 4.0 (one of them is the server for ltsp... but for all intensive purposes, you couldn't tell which one just by using them).
Left to right
1 IBM Intellistation E pro 450 mhz (running usalug.org)
All below are running K12LTSP 4.0
1 IBM Aptive 333mhz (k12ltsp client) (will boot into another os also)
1 IBM 300pl 200mhz (k12ltsp client) (will boot into another os also)
1 Built myself Duron 1.3 ghz machine (k12ltsp 4.0 server) (also have 5 other swappable drives)
1 IBM 300pl 400 mhz (k12ltsp client) (will boot into another os also)
not used...but tested for my garage an IBM 75 mhz.
All my older machines get a new life

Not to mention I can now log in and have my normal desktop on any one of my machines. 8) 8) 8)
I hooked up a 75 mhz IBM with 48 mb's of ram and an older 2 mb video card and a 3com509tpo ethernet card........... and booted K12LTSP on it........... and it was FAST !!!
It's REALLY REALLY strange to see an old antique perform like a new machine, but that's what it did, I even created some graphics using the gimp as a gauge on how fast it seemed to run, and it SEEMS to run almost as fast as the server machine......... the only thing slowing it down i think is my older hub. I may invest in a faster hub and 100mb pci cards and just get a new boot disk for the machine, as i think it would perform even better.
You just wouldn't believe me if you saw it running that it is only a 75mhz machine ..... something most people THROW AWAY
Unfreakin believable .......... it really is. EVERY SCHOOL IN THE USA should be using this........... as it would eliminate the need for upgrading every few years... I mean the 75 mhz machine is over 9 years old !!!!! I even pulled the hard disk completely out and removed the cdrom drive that was in it.
If you have any older computers that you were thinking of just throwing away, give this a whirl, it's pretty darn cool