[CentOS] Low-memory Centos5?

Good morning,

I've inherited an old laptop from my wife that I'd like to
use when I travel (it's fairly small with a 12" screen). The
bad part is that it is maxed out on memory with 384MB.
Has anyone played with using Centos5 on systems with
little memory? Ideally, I don't need too much - Firefox,
Openoffice, a little Perl/Python/C here and there. I was
thinking about using either XFCE or Icewm as the window
manager. I'd also like it to work with the existing wireless
card (Dlink DWL-G650). Any thoughts or recommendations?

TIA!

Jeff