Thanks Rich, it worked. I'm finally able to live boot into Tiny Core. It's amazing seeing such an old piece of hardware running a sleek piece of software.
However I do have one other concern. For some reason I'm unable to get to the install menu. Even after mounting the CD I don't have the install icon in the wbar, running tc-install from the run command does'nt work either. I've verified that the mount operations occur successfully, I can view the contents of the CD and the hard drive. Is it possible to run the install from a terminal?