A hard drive won't really "speed it up" unless you go with a 10k rpm over the standard.
If you really only have 256mb of ram, upgrade to at LEAST 1024mb (or better said, 1gb). Again, you won't notice a huge speed increase with that, but you'll be able to do more.
For a speed increase, I recommend a new processor. I don't know much about Dells, but I assume you'll need to upgrade the entire machine in order to upgrade the processor.. So if you can find out the socket type of the processor in the Dell, that's what I would recommend increasing.. on top of the ram, of course.
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