Is my computer too old for a SSD?

I first got this computer in 2004. I've had to replace the secondary hard drive I put in it after 9 years (got it in 05), and now I think the primary drive is starting to fail as well after all this time.

I don't really have the money for a new computer right now, but I have more than enough for a new hard drive. All my important stuff (videos, documents, installers, etc) is on the second drive anyway. However, I had a thought...

Is my computer too old for me to try out a Solid State Drive as the primary? If I was to get (or make) a new computer, I was thinking about putting in a SSD as the primary (and my second SATA HDD as a slave) anyway. Would that work? Would I even notice any upgrade in speed as opposed to a HDD, since my system is so old?

I'd want to stay with my 32-bit, Windows XP setup, as WinXP is the only Windows I have the installation disc for. Size doesn't really matter; my current primary is only 40 GB, so anything I get will be an upgrade. My main wonders are: will it work, and will it be any better than if I had gotten a new HDD? I'll do all the research and whatnot after that. I just want to know this decision won't fry my computer.

My Computer specs:

Tech Support Guy System Info Utility version 1.0.0.1
OS Version: Microsoft Windows XP Home Edition, Service Pack 3, 32 bit
Processor: Intel(R) Pentium(R) 4 CPU 3.00GHz, x86 Family 15 Model 4 Stepping 1
Processor Count: 2
RAM: 3062 Mb
Graphics Card: Intel(R) 82915G/GV/910GL Express Chipset Family, 128 Mb
Hard Drives: C: Total - 35055 MB, Free - 2883 MB; D: Total - 476937 MB, Free - 222184 MB;
Motherboard: Dell Inc. , 0M3918, , ..CN708214B5049M.
Antivirus: Avira Desktop, Updated: Yes, On-Demand Scanner: Enabled