Buying an iBook G3 [Please Help!!!]

I am considering buying this iBook G3 from this website
http://www.powerbookguy.com/xcart/catalog/iBook-G3-500MHz-CDRW-12-inch-p-17042.h tml
I have a couple questions on if I should actually buy it
1. can I upgrade this OS to OS 10.3.9 (Panther) and it run with good speed?
2. are there any other better websites I can go to? [please don't tell me ebay because I have already
tryed and I don't plan on it again]
3. is this all around better than an iMac G3 (thats what I currently have)
4. can i watch videos and meet the basic needs of a highschool student?
5. is a 100 Mhz difference that big of a deal? (I might get a different model than the other)
sorry for all the questions but you know better safe than sorry (and please don't tell me to get a better computer I really don't have the cash)
thanks in advance and God bless!

1. yes, however for the best results you may want to add more memory.$$$$$
2. go to lowendmac.com and click on deals. select ibooks and you'll find a list of resellers. (i've bought 3 apple laptops off ebay and have been satisfied with all 3. you've really got to chose your sellers carefully and be patient.)
3. well now i'm sure an ibook 500 is better than an imac 266 and worse than a imac700. a lot of changes were made to the imac g3's during its run and you didn't mention which model you have.
4 & 5. when apple went to the 600mhz model they upgraded the vram. that will make a difference in watching videos. anything greater than 600 and you will have a greater chance of having logic board problems.
6. personally i would not buy any older laptop without the software restore discs. call (yes, telephone) and ask about the discs. my personal opinion is that a 600 somehow hits the sweet spot. good luck.

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