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Here is what I would do if I had your system and a lack of funds for a new one.
1) Ditch Win ME and find yourself a copy of Win98 SE. Not XP, as your system would be bogged down from its high demands. Save your needed files and programs to a CD or another HD (use a friends if necessary) and do a clean install by reformatting your HD.
2) Up your RAM to 512. RAM prices are pretty reasonable right now so I would get the fastest memory your mobo can handle.
3) Save your system some processing requirements by removing hardware you do not use. If you have a modem and network card, but only use the network card for broadband, take the other one out.
4) You can probably find a faster proc for your mobo at a cheap price. Old P3s are not very expensive. If you went to a "mom and pop" computer store they may have one for a steal.
Carefull of how much you spend though. Jogga has a point that you can get a basic system from Dell for cheap when they have a good sale. It might be possible to buy a whole new system for only $100 more than all the upgrades would cost you.
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