Hey, I am totally new to linux, but I would like to install it on my computer. I was curious about the hardware compatibility. I have a cheapo eMachine 533id2 with and celeron processor in it. The eMachine site won't back up whether Linux is compatable or not, and I can't find most of my parts on the compatability lists. That is probably bad. Does anyone know any good sites for more info, or have any suggestions?

Are all hopes of linux gone for me?

Well, I checked out your model, well I think everything is compatible or could get working. I am unsure of your modem though. If it is a winmodem, it most likely won't work. You can try http://www.linmodems.org and see if it is listed there to check its compatibilty if it is a winmodem.
Are you wanting to dual boot or just leave as a Linux machine. If you don't have much important info on your machine, give it a try I say, the worst that could happen is it doesn't work, and then you can just wipe it off and put windows back on, or if your dual booting, it wouldn't even affect your machine. What distro were you planning on using?