Hey Rob,
If you're looking for a newer faster system for least amount of money:
i just did this in May. My parents bought a new Dell, you know one of those basic models for like $3-400, and were gonna throw away their old Compaq Presario 500MHHz machne. I nabbed it and upgraded it myself for about $200.
Now it's one of my current desktops (2.93 MHz/512MB RAM/160GB hard drive/CDRW), XP loaded from my laptop HP OS CD.
If you can break down a motorcycle, this is a breeze and can be done in a day. Everything's plug and play now days on home desktops, so it makes it easy for anyone to do. Plus the new stuff comes with step by step instructions for where to plug what in, cpu cooling fan install (takes all of 5 min), plugging the cpu into the motherboard (another 5 min), etc... anyway you get the picture it's all easy for someone who knows how to read basic instructions and uses a computer everyday.
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This is how you do it, and what you'll need:
Pull from the old PC:
Floppy, CD.
Save from the old PC setup:
Keyboard/mouse/monitor/speakers.
Order Items (here's a list I just slapped together from tiger).
ATX Micro-Tower Case $30
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1242218Mach Speed Motherboard and Intel 2.93GHz Processor $50
This motherboard has onboard Sound, Video, and Ethernet.
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1179396CPU Cooling Fan $13
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=235454512MB RAM - DDR 400MHz $40
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=58682952x32x52x CD-RW $25
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1042933Maxtor DiamondMax 160GB $50
http://www.tigerdirect.com/applications/SearchTools/item-details.asp?EdpNo=1477502Now put it all in the new case and load whatever OS CD you have,
and waahlaa! New PC (Intel 2.9 GHz, 512MB RAM, 160BG hard drive, Sound, Video, Network, CDRW, CD, Floppy).
DIY for around $200, or $150 if you reuse your old hard drive.
Half the price of a new machine, and really has more features than a new base PC (which would have 256MB RAM, no CDRW, and less than a 100GB hard drive).