first of all, Ayushman, plz remove the Caps Lock... its like ur shouting!!!!
secondly, i answered ur question on where to get distros in ur other thread itself...
regarding ur PC config.it actually is less than the 256MB ram that is the minimum requirement for ubuntu...
so go for either the alternate as sariq said above, and prefer XFCE to all other DEs and finally, go for smaller linuxes like Puppy Linux, it will run better!!! and also avoid Live Distros, instead install them and then use it...
PS: Its 6.06 and not 6.07
Edit:
I just saw that u were ready for upgrades...
if then go for better RAM,say 512MB and if needed a graphics card as well, as nowadays, Linux looks cool with the new
XGL 3D Desktop switcher 8)