Is it worth upgrading my laptop?

[souperzombie]

My old crummy laptop is slow as dirt right now and I'm thinking of upgrading it. I'd be using it for video editing but it obviously wouldn't be my main computer for it, I'd use my desktop for that. I know it is possible to use it for video editing in it's current state since I used it for just that in college but it's obviously not ideal. All my editing materials would be on an external usb3 hard drive.
Specs:
Laptop model MSI FX600MX
Nvidia 310m (soldered)
Intel i5-460m
2x2gb ddr3L 1333Mhz RAM (SODIMM?)
An old 500gb 2.5" WD HDD partitioned into 2 parts for some reason.

I'm definetely going to go with an SSD because it's the law.
If I go with upgrading my CPU right now I'm looking at either an Intel i7-640M or intel i7-2620M depending on which one is compatible, and RAM I might upgrade to 2x4gb for a bit of an extra kick.

Other suggestions are welcome.
Thanks.

 

[M0D3]

Its damn old. 1st gen i5 and ultra low end ultra old 310m, with slow 2gb ram sticks.. Get a new laptop.

 

[grmnlxndr]

From my point of view, upgrading CPU is not very useful, as the i7-640M is basically an overclocked i5-460M. (you'll be spending more than the performance gain)
If you plan no to use as main video editing machine, upgrading to a SSD and 8GB of ram for me is an viable option. You won't get a better laptop with what you're going to spend with the upgrades.
For web-browsing, office and programming will be a great value machine.

Regards

Edit: You cannot upgrade to a 2nd gen Intel core processor, only to a 1st gen, and you must assure that the cpu in your laptop is not soldered down. But as I said, I wouldnt upgrade the CPU.