First, you'd have to download an Apple Firmware upgrade from apple.com and run it from OS 9 so that the video card will work with OS X. If you don't do it, you will get a blank screen at the reboot after installing OS X. I forget now which firmware number it is, but it shouldn't be too hard to find out. It's there in Apple's website.
Next make sure you have at least 256 MB RAM. Your machine takes a maximum of 512 MB RAM chip. You can use PC100 or PC133 chips. Either will work.
Last, make sure your OS 10.3 installer works in that machine.You will have to use another Mac to expand the dmg (disk image) and burn the contents to a cd. Boot from disk 1 by holding C as you power up before the welcome chime is heard.
I find that the best results are obtained if you do a clean install. An upgrade install may work, but it could turn out to be unstable to use. Also an upgrade installation will leave many junk files behind.