Yes, it is lightning fast but somewhat slower than Damn Small Linux.
I never managed to install Puppy in a classical manner, I did only frugal
installs.
Your laptop has 600 MHz processor and 1 GB ?
Maybe, apart from Puppy, something like Crunchbang Linux or Dreamlinux or
Mepis Antix would be very good.
Puppy is much faster even than Windows XP or Windows 2000.
However, I was amazed by the speed of Dreamlinux, even with the Gnome desktop
environment and I really do not understand how it is possible for it to be so
fast. Anyway, its XFCE desktop has the speed of Windows 2000 at least.