Answer
Hi ian
depending on the age of your thinkpad and its bios you may be able to boot your laptop from the external drive,most modern bios programs have a option to boot from a usb device as well as cd rom and hard drive
as a normal external storage device this will work fine as long as you have a spare usb port on the thinkpad
and as for your memory you are best going to http://www.crucial.com/,and run the online memory utulity,this will scan your laptop and give you a report on which is the correct memory for your laptop,and you can even purchase it directly from crucial
however remember 37% is still alot of capacity,i currently run at 25% hdd capacity and that equates to around 40gb(160gb drive), then
again in todays multimedia dvd and downloads of films 100gb seems a small amount of capacity in a hard drive
so basically ian if you have a spare usb port then you should be fine,even better if its a usb2.0 speed port
any problems let me know
nice
luck ian !