Is it locked up or are you just not waiting long enough? On one install I did it took almost 20 minutes to get past that point, and that was on a low memory machine like yours.
Try it again and this time just walk away for a while (a long while).

When I tried pushing the power button nothing happened, so I assumed it locked up.

Have you installed the latest bios?
Installed using Non-ACPI?
Taken out all hardware?

Yes it does have the latest bios. I did not try removing any of the hardware. I received the machine from my dad who previously had win2k on it, but it would not boot for some reason, it would just go to a black screen and sit there forever, so I formatted to install again, and it won't install. I don't get it. I think i'll just take the ram from that machine and put it in mine

It's probably the AGP driver. Install again and when it gets to the blank screen, reboot. Press F8 when it tells ya to and boot into safe mode. If VGA mode pops up come back and I'll tell ya what to do next.

I have the same exact problem.
 
I also have a biostar mobo.
 
I never found a solution after months and months and months of trying.
 
The only temp solution for me was to put my hd in another persons computer, install windows, and then when it wants you to restart for the first time, put your hd back in your machine with the win2k cd in your drive and everything from there on will work. I think it is some problem that biostar had because they will not update their mobos bios and that really ticks me off! Best bet is to try and sell your mobo, btw, mine is for sale.
 
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Athalon 500
196mb Ram
3D prophet ddr-dvi geforce
SB Live! sound card.
biostar m7mka mobo
20 gig maxtor and 3.5 gig fireball
32x tosheba, and adaptec scsi mitsuia cdr 2x4x
ms internet keyboard pro
ms intellimouse explorer
640k DSL on wintell modem with linksys dsl router
100mbit dlink nic w/wol