Go for it! This is IMHO the best performance/money ratio you can currently get with a used Thinkpad. And if you want even more performance gains, any additional money is much better spend by replacing the HDD by a SSD, instead of buying an even more recent Thinkpad model. While i disagree with the notion that a T61 is "kind of outdated" in certain contexts, a T500 offers a few very significant and worthwhile technical improvements. Not so much regarding computing speed, although there are quite some overall performance gains, but mainly due to some interesting internal technical enhancements. You finally get rid of the legacy ATA interface of the Ultrabay and also have already builtin SATA-II on both HDD connectors. Then the availability of much cheaper DDR3 RAM modules is a definite plus, because upgrading to 8GB RAM has thus become very economic. Furthermore, the Intel graphics is much more improved and capable than any of its former varieties, and even the dreaded nVIDIA issue which plagued the T61's is gone for good. And while you are at it, some components of the T61 can still be used with the T500, like for example the keyboard and the docking station. The T61 has the advantage of a 4:3 form factor for some models, and its latest builds which, like yours, are already equipped with Penryn CPU's are more than sufficiently fast for any kind of office/web browsing usage, even when avoiding the doomed nVIDIA GPU's which were so common with the T61. If one doesn't care at all about gaming or anything related to graphics performance, then a T61 with Intel graphics is still more than adequate. Some people, including yours truly, even prefer sticking to the T61 because its 4:3/14.1" mainboard can be easily modded into a 4:3/15" T60 chassis, combining the T61 advantages with all the IPS/Flexview UXGA display superiority which have almost completely disappeared from most more recent Lenovo Thinkpad offerings. For me this is the single main reason still sticking with a T61 in disguise as such a Frankenpad, as i much more prefer a superior display over any effectively mainly idling perfomance advantages. Other than that, if one doesn't mind being limited to wide screen displays, there is no reason to prefer any T61 over a T500. And if one is not a speed junkie, but mainly cares about a still well proportioned display, there also is no real reason to buy any newer Thinkpad offering which only sacrifices even more vertical display real estate by switching from 16:10 to the abdominable 16:9 form factor. But to each her/his own.