Is it worth it...

The hard-drive, yes. You'll notice an increase in speed, when Windows and programs are loading.

As for RAM. I would only put 1gb in, unless you intend to make it a gaming machine, or use Photoshop to edit large files.
 
7200 is a good upgrade 2gb less so, unless you're using it to demo ERP software and need the database running at the same time as the apps
 
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