OS X is more modern, UNIX based, et cetera. 9.2.2 is the original Mac OS. It'll be snappier and more responsive, but less stable.
I'm not saying 9 is "unstable"... quite the opposite. I have no trouble with 9. But if you get a misbehaved app, it can bring the whole thing down. Not so with OS X.
My suggestion, upgrade your RAM to at *least* 256MB, 512 if you can afford it, and then, replace the video card. PCI Radeons can use Quartz Extreme in 10.2. Finally, a new HD will help speed things up with higher transfer rates, et cetera.
Stick with OS X is my suggestion!
Your older software may or may not work. Test them in OS 9 first. If they run there, then they'll work in Classic, which is what X uses to run non-OS X software. Also... if you choose to stay with OS X, DO NOT remove the OS 9 System Folder. It's required for Classic to run!
[ December 04, 2002: Message edited by: Jimmy James: Mac Commando ]