To be honest I'd simply go to add/remove programs and remove what you don't want. There isn't all that much crap on these machines, at least not as much as on a Vaio or Gateway. The time you'd need to spend on getting all the drivers together just isn't worth a total reformat, then adding all the SP's and other tweaks.

With 2Gb of ram your pagefile isn't important, unless you have a lot of lame apps with memory leaks you won't need to be paging anyway.

As for the workload of the monitor; all the work will be done by the GDI anyway.

If you really want to boost things then you could always add some ram. I assume the drives are SATA?