As WSS 2.0 can not be installed on win server 2008, can I install any version of SP 2003 on win server 2008?
I'm sure you could hack your way around it and get it eventually installed. My guess is the bigest hurdle is getting asp.net 1.1 installed. I'm also assuming your running the last Service Pack that was released so you can install SQL 2005, as I don't think you can use the built in database either.
The real question would be why? It cant have anything to do with support as it's not a supported application at all (regardless of OS).
Your time would be better served planning an upgrade strategy than trying to force this to run on a later OS. But if I HAD to run the legacy system - I would run like it any other. Deploy it the way it should be deployed with legacy OS and put it inside a Virtual Machine.