Hi,
I have 2 of this HPC, one is working fine, the other is really damaged, dead pcmcia port, dead screen flex cable, no battery, ideal candidate for something like this.
The main issues right now is to make the keyboard work as a usb device and make the screen works or found a decent alternative that can fit in the space.
I was just thinking of something similar for the MP900. I love the keyboard and form factor to bits, having a semi-modern Linux terminal built into this thing would be beyond awesome. Good luck with the project!