After 10 years of windows i have finally seen the light! But im very much a newbie in matters Linux. Will this hardware (my former game-rigg) be sufficient to run Knoppmyth?

ASUS P4P800 Motherboard
1,5 GB PC3200 DDR
ATI Radeon 9800 (reference design)
IBM GXP 40GB HDD IDE
Seagate Barracuda 80GB HDD SATA x2
Seagate Barracuda 200GB HDD SATA
Philips DVD+RW optical drive

I plan to run one analog, two DVB-S and two DVB-T cards (all from Terratec) and connect it thru the DVI connector to a HDTV Plasma 1280*1024.

It should all work.
Only 2 things to note:
SATA drives don't always play nice with KnoppMyth under auto install. I believe they can be installed by choosing manual installation from the boot menu ( but I don't know how you'll have to look for the instructions as I use a PATA drive). Though looks like you'd have more than enough storage.
Radeons have been reported to be difficult to set up due to driver issues, or has been in the past. (Again, don't know don't have one for myth.) But I have seen posts here abouts about getting radeon cards to work with newer drivers.

Searching the forum is good!
Google too is your friend.

Good luck

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Version:R8
Intel C2D 7400, Nvidia 5600 via HDMI to Samsung B37B650TW (PAL), Asus P5QL-E mobo, 4Gb PC6400 DDR2 ram, Samsung Spinpoint 500 Gb & 1Tb drive, Nova-HD-S2 (x2)

Cheers, mate!