I'm a CompTIA A+ Certified tech, and I work with Linux all day. Hopefully I can help.
Xubuntu is basically Ubuntu that's lighter on resources. Your Compaq nw9440 should be a Core 2 Duo machine, which is way more than enough. I run it with 1.5GB of RAM and a single core CPU. You likely have twice the laptop that I do.
Distributions are like clothes. There are tons of different options. I personally like Xubuntu, and think that it's the best OS for a beginner (Don't worry- I run it on most of my computers, and it can do advanced stuff if you ever need it to).
For the *Buntu distributions, you'll want a LTS distribution. They have updates for three years. The newest LTS is 14.04 (Supported until 2017).
You can use Wine for lots of Windows programs. But, most programs have a Linux equivalent, or something close. I've never installed Word on my Linux laptop, I use LibreOffice.
With a Linux machine, it'll take a day or two to get it "dialed in". Once you have it dialed in, though, it works flawlessly.
18 months, ago, I had six computers that I frequently used for my job. All of them ran Windows. Today, I have one Windows machine, and the rest are Linux. The last one will be going to Linux in the next month.
Once I made the switch, I never have wanted to go back.
If there is any way that I can be of assistance, please let me know. I'm more than glad to help!
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