Lease a new life into an old laptop

I have a very very old laptop(Compaq Presario 1260) that is designed for Windows 98 and had been very handy until past few years. When the software environment started getting more and more resource hungry. I had to with a heavy heart retire this laptop as its resources where no match to the new softwares requirements. It has just 4.3 GB hard drive and cannot support more then 128 MB RAM. This was my first laptop and i'm still very much attached to it. The good old coding fun i had with it using Microsoft Visual Basic 4.0 and then 5.0, PERL and C. I had to shelf this computer as i never would never muster enough zeal to drop it at Salvation Army. For past few years i have tried to infuse life into this laptop by using many different Linux distro's like Puppy Linux, Damn Small Linux and Ubuntu 7.0.4 then upgraded to Ubuntu 7.0.10 on this laptop. I was happy with Ubuntu 7.0.10 as i was able to use my ZyXEL Wireless card to connect to internet,but the performance was very slow and so i had to shelf the laptop or quite few months.
Then i saw the gBook laptop at Walmart, which is powered by gOS which is based on Ubuntu linux. I downloaded and installed the gOS on the laptop while i was watching the 1st final one day cricket match between Australia and India on saturday nite.
I liked the gOS's tight integration with Google Apps and i won't mind living out of my browser for this laptop. The interface is very clean with all the program icons on the bottom dock just like OS X. Now i can use a dedicated laptop to handle my blog and also use it for light weight internet app. The further test i want to carry out on this old laptop is if i could use it as temporary wireless coverage booster as gOS is based on Ubuntu.