As SD cards are rather cheap, replacing or getting an SD card (remember, even 2 or 4GB would be enough to replace an old HDD 😀 ) is not the problem, as in much cheaper...
Compact Flash cards (especially the smaller ones with 128-2GB capacity) are not very common anymore, and they tend to cost more compared to SD cards.
A 2-4GB SD card for example would cost me around 6 EUR in Germany, whereas CF cards (of smaller sizes) I would only be able to get online second hand, as newly produced ones (besides being quite costly at 30 bucks +) only come in way to big sizes.
As for the adapters, CF or AD adapter cost about the same, either locally (Europe for me) at around 15 bucks, or imported from China for around 5 bucks incl. shipping (but with at least a few weeks of shipping).
Since I didn't want to wait I got my adapters from a shop in Ireland for about 12 bucks a piece. (over ebay)
All you need then is an SD or CF card, and possibly a Drive Overlay software like OnTrack or EZ-Drive, as the chance of the CF card or the SD card being way to big in terms of capacity is very high.
Your computer's BIOS limitation for Hard Drive capacity is probably 504MB.