Generally outside of a memory upgrade laptops are like a snapshot in time.Their not really built to be upgraded. If you're running Win98 or WinMe, even more memory won't help as those OSs don't really recognize more than 256mb. If you wanted to go through the trouble, going to a faster 7200rpm hard drive would make the machine boot faster and apps load faster, but would require that you do a complete clean reinstall of everything on your machine and have all the right drivers.
I think you're be better off working a deal with Ira and trying to find a salvage screen for his machine. There are laptop salvage joints out on the net, my boss once was able to find a salvage screen for an Apple laptop he accidentally frove over. You'll have to get lucky and find the same replacement part as the screens are pretty model specific too. If you don't really need to take it places, but want the small footprint of a laptop, you can probably hook up an external monitor and just use it as is.
It's only recently with teh higher end gaming laptops like Sager and Alienware machines that there is any upgrade path at all for portables.