I love my IBM ThinkPad T40. I've been using ThinkPads as my notebook of choice since 1994 when I got a ThinkPad 750 (I think it was). I've had great luck with them.
But with this ThinkPad T40, the hard drive just doesn't seem to be quite right. It is slowly dying. Sector by sector, it is degrading. Luckily, I actually do backups on a regular basis so when Windows got wiped out again due to more sectors going bad, I was able to recover my data. But I don't trust it now, I'm going to have to talk to IBM about it. I'll let you know how well their service goes.