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1) Galeon has almost become every bit the browser that IE is. It is very fast, feature full (almost as much as mozilla and much more so than IE), and stable.
2) In the last month there has been a huge clean up of the mozilla memory issue and it now runs reasonably well on my P200 with 96MB RAM. Also, mozilla is not buggy. It has bugs, but I use it at work every day for the last couple months and it works perfectly 95% of the time (is IE really better than 95%?) People who were disallusioned after M18 need to download the latest nightly build to have their faith in mozilla restored. And yes, mozilla is almost an OS unto itself. Is that a bad idea? Maybe on a slow computer but the idea has amazing potential. The other day I clicked on one link to install a sophisticated theme builder into mozilla. Did it ask me if I needed a linux version or Windows? No. That is cool.
3) Simplifying the web is (a) Not going to happen, (b) not a good idea. I think java, flash, etc make the web cool. With processor and home internet connection speeds going up as much as they are we should be thinking of new ways to expand our internet experience not restrict it. People using 486s for their desktop computers need to get a job. A upgrade to a P300 with reasonable amount of RAM can be had for a couple hundred dollars.