Your first mistake is assuming that there are multiple ways to upgrade a CPU.
If you had a desktop, and it had a good quality motherboard, you would be able to Overclock, which is a fancy word meaning to alter the operational settings and make the chip perform faster than recommended. However, this means that you need to have a motherboard which allows you to ALTER those settings. Laptops do not have motherboards which allow those settings to be altered. Why? Well, for one, altering those settings makes the CPU run hotter. In a desktop, you can simply use a larger than factory heatsink and fan combination, to dissipate the heat. You can't do that in a laptop. And laptops run so close to factory tolerances in regards to heat, anything that makes a laptop run hotter than it should, causes it to shut down. So, no overclocking for you.
Now, if Compaq sold that model laptop with a faster CPU than you have, you could purchase a new CPU for it. Changing a CPU just means completely disassembling the laptop, removing the heatpipe and cooling fin assembly, unlocking the processor socket, replacing the chip, relocking the socket, re-pasting the processor, mounting the heatpipe and cooling fin assembly, and reassembling the laptop. A few hours labor. Again, that all depends on whether or not Compaq ever offered that model laptop with a faster processor. You might already have the fastest processor that was offered in that model line. That would mean that even IF there was a faster processor for that socket, chances are, that BIOS would not recognize it because Compaq/HP would not have made that BIOS to recognize a faster chip. SO, do your research, and see if there even WAS a faster processor offered in that model.
But, that is your only option.
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