Following settings have worked best for me:
WinME Fresh install
V5 5500 (v1.04 drivers)
SB Live w/ new drivers for WinME + Liveware 3 (latest)
D-Link 10/100 NIC (WinME default drivers)
P3-700 @ 805
256MB PC100 RAM using all 3 slots (2 64's & 1 128)
KDS VS-195E 19" monitor (WinME default drivers)
HP 882C Printer on USB (drivers from HP CD that came with the printer)
Logitech Wireless KB & PS/2 mouse (Mouseware 9.0)
Microtek X6 EPP scanner (latest Microtek drivers)
NO i815 drivers installed except ones that come with WinMe
NO Intel ATA drivers installed except ones that come with WinMe
DirectX 8
IE 5.5 SP1 & MSN Explorer 6.0
Office 2000 SR-1
Crap load of games (Everquest, Q2, Q3, UT, NFS, Solitaire .. LOL)
System runs 24-7 with only minor bugs (knock on wood) 

Settings I changed in BIOS

BIOS = 1003 Final
PNP OS = No
Sound (SB Live) = PCI Slot 6 and set manually to IRQ 3
COM 1 = 03F8, IRQ4
COM 2 = 03E8, IRQ4 (or disabled) they will NOT cause a conflict & it saves an IRQ
LPT = EPP, IRQ7
Reserve IRQ 7 and 4 in the exclusions list
Legacy USB = Disabled
Suspend to RAM = Enabled
Power up by USB = Enabled
All Shadowing = off
ECC CPU Checking = Enabled
Keyboard power on = CTRL+ESC (creates a higher wake signal than one key or mouse)
Video off method = V/H Blank (think that's what it's called .. I know its not DPMS)
AGP = 2X (why ask for more problems until 4x is even needed - 4X is not worth the headache yet)
If I left anything out let me know.

Leave Hibernate settings alone in Windows (all versions). CUSL2 does not support that type of hibernate (suspend to disk) in power management applet.

Been running with this config for a while, without any major probs. Everything works.
Oh - one more thing - if you have a SB Live .. set Soundblaster legacy to share the LPT interrupt.

Have fun!

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