I tried it on a rather old box my niece was going to throw out. 233 MHz Pentium, 64 MB Ram, 8 GB Maxtor disk. During the "Installing the Debian base system" phase:
No installable kernel found
No installable kernel was found in the defined APT Sources
The kernel default package is 'kernel-image-2.4.25-1.386'
You may try to continue though this rather strange error is probably fatal
Continuing restarts the "Installing the Debian base system" phase, i.e. puts you into an endless loop.
Since this is a network install, I was pleased to see that it figured out that the Tulip driver was needed for the NIC. That's an improvement over the Woody CD-ROM install.