@mohai - I installed Q4OS Gemini Plasma Live on a 256GB flash drive and gave it a try.
I agree with
@Dav that it does have a W2K feel to it, but I think that's mainly the KDE Plasma Desktop environment. If you are looking for a straight up Windows replacement, that claims it will be able to run Windows .EXE files, ReactOS is the Linux distro. But beware - it has been in beta for about 5 years.
I have a Dell Optiplex 990 with a i5 4-core CPU, so in testing this distro, I had no speed/performance issues. I even ran several timing tests, and the speed is comparable to Ubuntu, so you will need to make sure you install the version designed for older CPU's. I only tested the 64bit version.
I first tried to run binaries created on Ubuntu in Q4OS, and any that did not use specific GUI's (like GNOME's gdialog/Zenity), etc. worked fine. In fact, I first moved my entire QB64 compiler directories over to Q4OS and ran it with some issues, but the IDE worked and compiled simple BASIC programs. However, I realized right away when I tried to compile my first program, I got an internal compiler error, which stated g++ could not be found. After I installed it, I was able to compile and run programs that used either the CONSOLE:ONLY or the QB64 Screen. The reason g++ wasn't installed I believe had to do with the fact I was running a LIVE version, which would not install any of the libraries needed, like g++. So I manually installed them as they popped up.
I did run into an issue when I tried to compile a program that used Zenity. I then got another internal compiler error, which said "parts/core/glew/include/GL/glew.h:1188:14: fatal error: GL/glu.h: No such file or directory" which meant I needed to recompile QB64 in Q4OS. My program then compiled and Zenity, a GNOME Desktop GUI worked in KDE Plasma! (Probably because Ubuntu and Q4OS are both Debian-based Linux).
I then installed MySQL and ran a test of a large application I'm developing that uses it, gdialog/Zenity, HTML/CSS, C++, and SQL procedures, and after setting up the MySQL region (and having the same pain in the butt setup issues I did in Ubuntu) it worked fine as well.
My suggestion is to recreate any QB64 generated binaries and you should be fine. And since I didn't install Q4OS on my hard drive, I don't know if it installs all the necessary libraries. It did offer me three options at start-up, and one was a lite version, which probably means you need to install g++ and other libraries manually.
In fact, I may create a dual boot with Q4OS as my second OS, as I can test my code on both a GNOME (Ubuntu) and KDE Plasma (Q4OS) environments. (My third will be ARCH Linux, as that is not a Debian-based Linux distro).
Q4OS is a solid distro, from what I was able to do with it so far.