I'd agree with curtw's assessment, it'll run
some form of reading application, though you might have some issues getting one that will fit in its rather limited memory (and still leave any space for books). That's a Gen 2, BTW, just to pick nits -- the Gen 1's were called simply "Pilot" rather than "PalmPilot." The name changed when 3Com bought them from US Robotics.
Here's a pic of a 1st Gen:
Wow, that brings back memories ....
That model probably has 1 MB of memory, at a guess, either that or 512kB for that model. I'd say $5 is probably about right these days, unless you're trying to find a pristine specimen for your own personal museum or something.
