If you get fun out of that Mac then its worth it, but I wouldnt spend a single cent more on it, as youll get much more bang for your buck investing into a new Mac or PC. Its already quite obsolete, but thats the relentless march of technology for you.
I only plan to upgrade the storage, ram, and OS in this thing. Other than that, it's to me not really worth it after all those. A lot of money spent on something that really isn't going to gain that much more. As the guy said, own this thing for a year, get really good at the MacOS and then get something amasingly faster and have fun with it.
So I have a year to save however much a new fast Mac will be in a year. Also just talked to a friend I've known for many years about the cost of computer parts, and how they've gone down in price so much. People now almost hesitate on telling me an X will cost this amount, thinking it's really expensive, and get shocked when we give them a debit card and say "here!!" with a surprised look and a smile. Then they get confused because of our reaction, but we tell them that back when we did computer building, the cost was nearly 4 times that amount for the same thing.
Yes, I built my first PC running Windows 95.. It was an AMD K6/2 133MHz 32mb ram, 80gb hd, 8mb video card, lower end sound blaster card, and back then that was blisteringly fast. Also a 17in. ViewSonic CRT perfect flat monitor which was bigger than anyone else's that I knew at the time. I also remember when mp3s came out, and the only song that was really available was Aqua - Barbie Girl and everyone played it because it was an mp3. Winamp was also out, but very few people actually knew how to use it with mp3s.
Back then, Macs were still considered toys. Very few applications that people used everyday would work on them. They were mostly for playing games, typing, and other stuff that was considered "fun", not work. Almost made more sense to buy a console videogame system. The Sega Megadrive was my "Mac" so to speak.