The solution ... don't use a PS/2 mouse. Just plug in a $3.00 (I might
have paid $4.00 for it) serial mouse into the serial port, Mandrake
recognizes it on boot and off you go. This worked great (as a work-around).
Of course, that eats up the one and only serial port, but at least I am
able to run Linux-Mandrake 8.0. Now, all I have to do is get IBM's MWave
modem and sound drivers and I should be in business.
Thanks to Turgut Kalfaoglu over on the Expert mailing list for the tip.
Of course, he's still trying to figure out how to get the builtin
track-point to work. For some reason, this isn't turning out to be as
trivial as one would think it should be.