So can I and I'm on a AMD Athlon XP w/ an AGP graphics card. Comparing two different games using different technologies won't get you too far.

(FYI, not a great comparison... HL2 is nearly 10 years old now. How well does it run Crysis 2 or other more recent graphics intensive programs?)
The best thing I can suggest is checking your graphics drivers. OpenGL isn't supported perfectly with various updates on Windows because few programs use it. Often there's regression from one version to the next without the manufacturers becoming aware of it for several months. Also, there are a lot of little Windows tweaks you can do that will enhance the performance you're computer overall. (There used to be a really good gamer's guide that walked even hardware and software newbs through what to do, but I've lost the link long ago and no idea if it's still up to day for Win7.) More RAM and a faster processor will help, too, along with a faster video card, but those aren't always an option.
A final note: this IS considered alpha grade software. Don't expect any real performance out of it as there could be a lot of extra code in it you won't see in release level programs that will significantly slow things down. The other big issue is that the client isn't even close to being optimal performance. loftar has asked anyone that knows what they're doing with OpenGL to have a look and see what can be improved. I don't know anyone has suggested anything so far despite over a half dozen public client mods.
Opinions expressed in this statement are the authors alone and in no way reflect on the game development values of the actual developers.