Type 'linux pci=off' at the lilo boot prompt when you are installing.
That did the trick for me. The installation goes smoothly from there on. Choose VESA driver generic and generic panel for display.
However, and here's the trick part, the installation would not boot up for me, and get stuck up at "Kernel panic, Unable to Continue."
With help from another mailing list contacts, I tried the following option at bootup (type 'a' while highlighting linux option in Grub which allows you to pass kernel options)
'noisapnp nousb pci=conf2'
That lets me boot up the machine without pcmcia or usb support and is rather slow too due to 5mbps transfer rate from the hdd.
Hope to get this resolved, but for now, you have a working linux install.
Hope that works.