I just bought a 1.33 GHZ ibook with 512 RAM and a 40GB hard drive for $125. It is sitting right here and looks great.
Of course there is a catch, it has possible hard drive issues. If the previous owner loaded too much stuff on it, it would kernel panic like crazy.
But I found this computer online here for $700, and a new (and larger) hard drive for it should cost around $50, I think that is a fantastic deal.
My parents have been looking for a good laptop to bring to the cabin so they can use the city wide wi-fi that GrandMarais has set up now. If I can get this working good this might be it! Or I might just have to keep it if I like it just too much...