Laptop Processor Upgrade??

I have a Compaq Presario 1500 Laptop with a 1.4ghz P4, 512mb DDR Ram, and an ATI Radeon 7500 32mb DDR video card, 7200 RPM 30gb hard drive (plus an external firewire drive). I use this machine mainly for Illustrator/Photoshop/Dreamweaver work, but often also use it in multimedia (sound editing, Flash, and occasionally Adobe Premier) and am also starting to work with intensive CAD software.

The system does well, but I'm thinking that the processor is starting to be a bit of a bottleneck. It is a "desktop" P4 chip. Is there any way i can crack open the case and just plop in a faster P4 CPU? Is there any way i can install a faster *mobile* P4? (I assume the mobile version has a different socket, tho).

Any help would be appreciated.

Thanks!
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More about laptop processor upgrade
  1. update:
    I ran a processor ID utility (from intel) on my computer and it gave this:

    Intel Pentium 4 CPU 1.60A GHz (I accidentally wrote 1.4 in the previous post)
    CPU Type: 0
    CPU Family: F
    CPU Model: 2
    CPU Stepping: 4
    CPU Revision: D
    Level 2 Cache: 512kb
    Level 1 Cache: 8kb
    MMX
    SIMD
    SIMD 2
    Netburst
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