James, you modem driver should be on your master cd1 in the folder called drivers, also if u load the program on the pc called smart restore u should be able to uninstall what u dont want be placing a red x next to the program.
If u do 98 install, u will need, modem driver, video card, sound card, and depending on motherboard fitted poss a couple of other drivers.
I have seen xp running on a pbell pulsar 24 pentium 2 233mhz with 256mb ram and it ran ok, whilst it will not win any speed awards it will be ok.