I am looking for a moderate sized linux distro which will work well on
a pretty old and crappy laptop. No CD-ROM drive, so I would prefer it
to be floppy based, although there is a SLIP connection with my main
PC.

40meg of ram, 1gig hard drive.

I was thinking of going with something like Slackware 3.3, but I have
seen Tiny Linux (http://tiny.seul.org/en/) and like the look of that.

Any more suggestions?

I am looking for something which will run X with something basic such
as FVWM2 (or even AmiWM). I will need support for all the usual
networking stuff etc, nothing else unusual.

Any ideas then folks?