cheap X61 contains faulty parts?

I'm looking to buy a Thinkpad X61. This costs only 894 dollars. Why is it so cheap? Is anything wrong with any of the parts, ie recalled?

The specs are here.

Operating System: Windows Vista Business 32
Processor: Intel Core 2 Duo T7250, Intel 64 Technology, Enhanced Intel SpeedStep technology1, Intel
Dynamic Acceleration, Execute Disable Bit, Virtualization Technology
Processor Speed: 2.00 GHz
Processor Cache: 2MB L2 cache
Bus Speed: up to 800MHz
Memory: 1GB std / 3GB max
Hard Drive: 120GB - Serial ATA-150 - 5400 rpm
Widescreen display:

12.1" (308mm) XGA (1024x768) TFT color, 150 nits, 4:3 aspect ratio, 300:1 contrast ratio, anti-glare
Graphics controller: - Intel Graphics Media Accelerator X3100 (GMA X3100), integrated in GM965
- External monitor support via analog DB-15 connector / no DVI-out support
Keyboard Touch pad: - 89-key, ThinkVantage button, spill-resistant, multimedia Fn keys, Windows/Appl keys
- TrackPoint pointing device, "Press-to-Select," Internet Scroll Bar, magnifying glass
- Illuminates the keyboard to improve visibility in low-light conditions
Dimensions(WxDxH): 10.5" x 8.3" x .80-1.39"
Battery:

* 4 cell Li-Ion battery pack: 490 g (1.08 lb)
* up to 3.9

Architecture: Mobile Intel GM965 Express Chipset (Graphics Memory Controller Hub)
PC Card Std slot: One Type I or one Type II, CardBus Plus (34mm ExpressCard via adapter)
Ports: Three USB 2.0, external DB-15 monitor, RJ-11 (modem), RJ-45 (ethernet),
IEEE 1394 FireWire 400 (4-pin connector; 1394a-2000 standard)
Interfaces: 3 x Hi-Speed USB - 4 pin USB Type A
1 x display / video - VGA - 15 pin HD D-Sub (HD-15)
1 x modem - phone line - RJ-11
1 x network - Ethernet 10Base-T/100Base-TX/1000Base-T - RJ-45
1 x IEEE 1394 (FireWire) - 4 pin FireWire
1 x microphone - input - mini-phone 3.5 mm
1 x headphones - output - mini-phone stereo 3.5 mm
1 x docking / port replicator
Weight: 3.1 lbs
Wireless antenna: UltraConnect II antenna / on-off switch for all wireless radios
Mini PCI Express: Two Mini PCI Express slots / only 802.11 wireless is customer upgradable
Intel 11b/g WWAN: Mini PCIe adapter, Intel PRO/Wireless 3945ABG
Modem: 56K V.90 (V.92-designed) modem in Communications Daughter Card socket
Ethernet: Gigabit ethernet on systemboard, Intel 82566MM Ninevah (PHY), PCIe x1 (GLCI), PXE
Audio support: High Defi nition (HD) Audio, AD1984 codec / mono speaker 0.5 watt / volume up, down,
mute buttons / internal microphone, mic input jack (pink), headphone jack (green)
Video: - Intel GMA X3100
-Dynamic Video Memory Technology 4.0
Bluetooth: Bluetooth 2.0 wireless, USB 2.0 interface via ICH8M, LED indicator
Fingerprint reader: Fingerprint reader on palm rest, swipe sensor, supported with security chip
Security: Power-on password, hard disk password, supervisor password, security keyhole
Security chip trusted Platform Module, Atmel chip, TCG 1.2-compliant
Lenovo Warranty: 1 year

 

Its because it has

A budget processor
1Gb RAM
"small" hard drive
Integrated graphics
No wireless N
Low resolution screen
Only a 4 Cell battery
Only 1 Year warranty

Nothing is wrong its just weak