I rescued this 14" T42 Thinkpad from ewaste and installed both Windows XP and Windows 98SE on it. It works perfectly.
Specs:

• 1.7 ghz Pentium M
• 1.5 gb RAM
• 80 gb HDD
• CD-RW/DVD
• 14", 1024x768 LCD

• Original battery at 78% health. Windows reports 2:40 hours of life while downloading updates.
  
• Original IBM charger.
• Windows XP installed from factory restore disks, with all original drivers, utilities, and 3rd party software. Legacy update installed and updates applied.
  
• Windows 98SE installed on second partition, with drivers and Lenovo utilities installed. Also installed 3rd party USB utility to enable using thumb drives in 98SE. (Networking and modem drivers are on disk but not installed).
  

Cosmetics: Crack in palmrest at front edge below mouse buttons. This kind of damage is very common on this model. See last photo.
Functionality:

• Overall system: Installed XP from optical disk, installed legacy update from USB stick, and downloaded updates over Wifi, all without issue.
• Screen: looks good, no obvious blemishes.
• Keyboard: all keys work
• Optical drive: boots and reads OK, did not test burning
  
• USB: works with thumb drive
  
• speakers: work
• Not tested: card slot, modem, headphone/speaker jack, VGA port, ethernet port, parallel port.

Free shipping in the US.
Overseas buyers: due to issues with sending used lithium batteries overseas, I will omit the battery. If leaving out the battery reduces postage, I will refund any excess.