it is possible to use the optical drvies, hard drive, and (BIG maybe) ram... but being that is it so old now I doubt the ram would be compatible with anything you have now. The optical and hard drvies might be usable, depending on if you wanted to try or not. I'm assuming it's a 10-20GB hard drive and probably a CD burner at best.
So to answer your question yes it is possible; worth it, no.
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