doesn't sound too bad of a deal but you didn't mention what O/S you got with it and no monitor and and what expansion ports do you have available?
What will you use the system for? Gaming? business?
Also I would juice up the ram to 2 gb

I wouldn't open the case and I really wouldn't touch anything inside ever again. You can foul out parts inside the computer with static electricity and poof ..there goes the Pentium. What you rubbed off is like a heat dissipation paste that is applied at the factory. You may have ducked a bullet, but maybe longevity of chip life cycle will be shortened.

My advice Plug it in...look at the pretty lights..don't touch the guts...

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