Well the hard drive checks out.
Now here are a few considerations for you to perhaps make this old machine run better:
1: Get a new network adapter for it, the most easy thing to do and one can do it without any effort and little money is to get a USB network dongle
this little guy is A low cost but effective USB network dongle
2: replace the hard drive with a solid state drive
A bit pricier than the above but a solid state drive (SSD for short) can make any old machine run faster as long as it is Serial ATA (which the laptop is compatible with)
This one here is reasonable, sure you will have to get your windows install media together and make sure you have that windows key in hand but its a good option as other hardware upgrades are pointless on that machine.
And #3 and the cheapest of all though it does mean installing something not windows on it.... Install linux on it.
Linux is a alternative operating system that is free to use and try and install.
Linux has all the things one needs from a operating system such as email, web browsers and office clients, granted microsoft applications will not work natively in linux but there are plenty of nice free apllicatiions in linux just dont use the machine for big games or anything and it will be fine.
If you have never heard of linux well dont feel bad as its one of the biggest secrets of the computing world but it is the backbone of the following things:
Android phones and tablets
Amazon fire devices
Web servers (ever hear of red hat? thats a form of linux)
There are also versions of linux that run refrigerators :D