Well I did the upgrades. Here are the results:
Overall with the two little upgrades costing me a tad over $200, I've been fairly pleased. Now I really wish I could have used an intel x-25m, but due to the constraints of this tablet this is the best I could do. Those two simple upgrades have breathed new life into the tablet. I was so upset with it that I was about to chunk it and go get a macbook air fully loaded with ssd ($2500). Now it's almost as good as a new lappy. I'd love to have the nvidia 9400 on this, and intel x-25m would be my ideal lappy/tabby. But this will do. Esp for the price.
For the most part, I don't do any hardcore number crunching or cpu intensive work. Just usual MS office / web surfing. Yes a netbook would suffice. But really the key is having plenty of ram and a fast fast SSD. The fastest you can get. The cpu in the x61 is more than enough for most tasks. I'm currently running vista x64t - fresh install without any of the junk lenovo puts on it. Yes I realize I don't have active protection (don't need it with ssd), and if I don't usually have anything on the local drive that I can't live w/o. The copy of music is on the mp3 player. Copy of my files if important is backed up remotely. Though I don't really have anything I need to keep. Except my grades except spreadsheet to see how far I am from that A
Upgrades done, in order of what I feel made the most impact in breathing new life to my 2 year old x61 tabby:
1) 5400 rpm 160gb HDD -> 64gb SLC samsung SSD
2) 2gb ram -> 4g ram
3) Fresh install Vista x64 without using lenovo stuff.
Really I have more ram than I now what to do with even if I run virtual pc. I'm considering using some of that extra space as a ramdisk.
EDIT: I also installed linux mint. What a joy to use. And is fast. couldn't get my external monitor (1920x1200) to play well in extended desktop mode. Probably can be done but couldn't find an easy gui way and got tired of tinkering around under the hood.