WSS 2.0 upgrade to 3.0

We currently have WSS 2.0 installed in a server farm environment. WSS 2.0 is installed on a rather dated system, the content and configuration databases are located on a SQL 2005 machine.
I am planning on upgrading WSS 2.0 to WSS 3.0 with MOSS 2007, however, I am not too sure what the best approach would be, as the MOSS 2007 minimum spec is quite high. The machine that WSS 2.0 is installed on is not powerful enough for the upgrade.

I have 2 questions.

How do I upgrade WSS 2.0 to 3.0? So far I have only found information on how to upgrade SPS to MOSS, which is of no use to me as I am upgrading WSS to MOSS.

Am I able to install MOSS 2007 on a new machine and migrate the content and configuration settings databases from WSS 2.0 to the new WSS 3.0 (obviously, not on the machine as I am using SQL for the databases)
If so how would I go about this?

Any information on this would be much appreciated.

Thanks