I hope You are satisfied now :)

[dunkel <antal.pettermann@gmail.com>]

The original problem was:
"However if I run "snmpwalk -v 1 -c public 192.168.1.36 system" on the
stable box, with 192.168.1.36 the IP address of the testing box, i get:
Timeout: No Response from 192.168.1.36

snmpd is up and running, I can ping both ways, there are no firewalls
in place. What could be wrong?"

The solution is:
open snmpd.conf with your favourite editor and
add these 2 lines:
interface eth0
agentaddress [ip address of your host]:[listening port -  161 is the default]