MacBook Memory Upgrade?

I'm sure this may have been covered before, but I want to make sure I get it right. I just traded my old iPhone 4 for a late 2006 model Macbook. I was looking to upgrade the RAM and the HD so it runs a little faster and I can store all my photos on it instead of my MBP.

I have never upgraded the memory in any of my computers before so I'm not really sure what I am looking for or whats compatible. Like I said it is a late 2006 Macbook, 1.83 GHz Intel core 2 duo. I was looking at the RAM here, I'm 99% sure it will work.

http://eshop.macsales.com/item/Other World Computing/5300DDR2S4GP/

Any ideas on a hard drive? I was looking at at least 750 GB. Is this computer even worth upgrading really?

Thanks for any help.