For my money it's better to keep the old cpu's crunching while putting together another machine
for speed. Right now I have two BX systems that put out about 5 WU per day between them and
an old K62-450@500 that puts out one WU/day. That's six units a day *I* (the team / seti@home) wouldn't be getting otherwise. It also gives me the ability to distribute some files and processes out to other machines on my lan so they don't all sit and run on my main box. This also gives me a few machines for the rest of the family to share the cable internet and play their games / do their homework etc...
Just keep in mind while you do all this upgrading that those "old" procs and mobos can be useful, it's easy to find cheap ATX boxes, NIC's, Vid cards etc... in the For Sale forum here on AnandTech.
Sometimes Team members even offer them here for free!
If nothing else, offer your old stuff to us first - Team members know what to do with that stuff to keep it crackin' for TA!