<< The real problem with this machine is the memory. I think it needs EDO -- which is kind of rare and very expensive (still!).
Since 64MB ain't gonna do it, you've gotta factor that into the price. >>
Actually the real problem with this deal is that you should assume the battery needs replacement. OEM (not clone) batteries are easy $100 and up sometimes. Also, no OS included.
I did a quick search on crucial.com for Dell Latitude CPi SODIMMs. 64 MB is only $39.09 but 128 MB is $302.59! I'd figure someone else has to be selling the 128MB module for about $100.
However, if you have modest needs (i.e. word processing, spreadsheet, and basic Internet apps), then Win98SE on a P2-266/64/4GB isn't so bad after all. Personally, I'd rather double my cost and get a new, up-to-date machine that could run circles around this machine. IMHO this deal does not hit the price/performance sweet spot, but it might do for somebody on a really tight budget (i.e. poor college student who needs a notebook).