My first gaming machine was a Compaq with a mini form factor, so I can relate. It was 'free' as well (the network admin was getting revenge on the parent company and started giving them away) and it served me well for a year. I know it's a gift horse, but given the hurdles I really am impressed you're making the effort. When you're done upgrading put out the specs -- I'll bet it's the buffest Craptiplex in the world by then.
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your fiend, mafisto