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Lets put it this way - it's only of value if you have a use for it. The hardware is pretty outdated, and if you're thinking of flipping it for cash, you'll be hard pressed to find someone who will buy it.
I'd only do the swap if you have a use for the PC. I'd probably peg the value of the setup at $200 tops. You can get a low end system nowadays that will probably run circles around his setup for a few bucks more.
You already have a laptop so having a desktop is probably of marginal benefit. If you want more storage, just get a bigger hard drive for your laptop or an external USB drive.
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