Nice! I have always had a soft spot in my heart for the 1xx series of PowerBooks. Save for the 190's, they are really nice machines.
I had a PowerBook 170 as my first "Self-bought" machine. Cost me about $100 off of eBay (when eBay was new) back in 1998, right after we got the iMac G3.
I loved the simplicity, as well as the battleship gray that it had. The other thing I loved was that I could turn off the backlight and use the natural reflectiveness of the black & White screen to bounce the sunlight/light off of it and I could like about 1hr more battery off of it.
I took it to school and it lasted for about 2 years until my dog pulled my bookbag off the kitchen counter and *BAM!* cracked the screen. Too bad...
I ended up getting a PB 190cs, and sadly, it was better than my G3 iBook 900Mhz, but not by much. Despite all the problems, I would take the 190cs over the G3 iBooks any day (Except clamshells. I owned a blueberry, but even that wasn't without problems. 3 logicboards later, and I got a G3 Dual USB, and it goes on...)
I never really had much luck with laptops. I tend to abuse them, but lately, I have been taking extra caution around them. Especially since i paid $1600 of MY OWN money on a MacBook. I have been ultra happy with it. The first was replaced due to failing plastics, but the one i got now is splendid and I have no complaints.
But anyways, 'grats on the score!
I had the pleasant experience of working on both the 170, as well as a 150, and they are rock solid, hard to abuse, and really easy to fix.
Keep us up to date with what you are going to do!