Quote: "how did you manage to get water in it?!"
A friend dented his laptop with pie...so anything is possible.
Quote: "i have a friend's dad who has crap laptops that i could buy for 120 bucks, 600mhz!"
Better than nothing, I'm using that kind of laptop for uni work and internet. If you haven't got the funds for a great laptop you're not going to get one. If you get that one, make sure it has Windows 98 or Windows 2000 installed, Windows XP will eat up too much performance (as I found out the hard way).
[edit]
...wait why do you need to worry about the graphics card and gaming when you can't afford a proper laptop? I mean if the laptop is for school then do games matter when you have the computer you've highlighted in this thread:
http://forum.thegamecreators.com/?m=forum_view&t=124061&b=33
Exit Pursued by man-bear-pig