two alternatives mirrors. its a fact doing any multitrack work you need 512 ram to do things properly. so - 512 is mandatory i'm afraid.
you COULD do work on that machine if the drives are fast enough.
OR second idea amd sempron machines are going for around 350 bucks here, these will easily do 40 tracks.
if you just cant afford 350 bucks , then upgrade your current 128 ram to 512. put a delta pci card in a slot. youll need a mixer to feed it eg..yamaha mg for example, some mics, and monitors.
if you want my honest advice -m do what i do - i would keep your current machine for netting etc, and get a new one cheap for multitracking.
if you download diskbench from prorec.com and run it on your hard drive..
in the hp pc you have..i'll comment further.
another thing that might help with your current hp is to get a tek to put in a new hard drive . the new hard drive technology might help.peace.