Upgrading POS = not worth the money; wait two months and save a bit more and buy a brand new one
Upgrading outdated but still modern PC = not a bad idea, if the upgrade isn't unreasonably priced (like most CPU 'upgrade kits')
And remember kids, you don't "upgrade" a motherboard, you replace it and you've now essentially got a new computer. Drives me nuts when people talk about upgrading their system from a Pentium 200 to a PIII or something, where the only thing they actually keep is the case and peripherals. If you remove a component and replace it with a new one, you've upgraded the computer. When you remove the BASE component that all others run on, then you've gone beyond upgrading and have 'replaced'.