I installed Ubuntu 9.04 which works good with all the devices. I am able to use even the integrated camera also.
The GUI problem is related to the screen resolution that can be tolerable professional like me. But the network card detection problem is not normal. I can wake my Acer 5315 up, if the network card works good. Then I can go for further research.
I googled a lot on this query. But the the problem persists. Finally I came to that RHEL5 is not for Acer 5315, however I am still doing my R&D on this. Pour your valuable suggestions in this regard.