I've searched the forums and most say don't try and upgrade your laptop. That being said, I'd still like to do it if possible. I stream a live video and it freezes and says buffering constantly. The internet connection is good (I think T1 and I used a cable to connect). The minimum processor speed to stream the video calls for 2.4ghz
I have a Toshiba satellite tablet. I ran cpu-z and this is what is says
Processor: Intel pentium M 725
socket 479 mPGA
Check your BIOS, you may be able to change clock speed there. If not (and you probably won't be able to), you may be able to find a modded BIOS or a way to mod your own BIOS to support overclocking. I overclocked my video card in my laptop with a BIOS mod, but I haven't tried the CPU.
I can practically guarantee you won't be able to do a cpu overclock, Toshiba neuters most of their BIOS' so most features are removed. It's a bad idea in a laptop anyhow, the heat buildup will likely be too much. You might be able to upgrade the cpu but I don't think it will go past 1.8 ghz. I can do some checking a little later but I'm pretty confident in that.
Are you streaming or transcoding on the fly? You can forget real time transcoding, and, from the top of my head, you should be able to stream a regular length DivX film which is at maybe 2 Mbit/s with the sound.