You're overthinking things. First, buy a 2.5" to 3.5" IDE adapter for $5 USD:

http://www.newegg.com/Product/Product.aspx?Item=N82E16812119245

Plug the drive into a newer Mac, install 10.4, run all the updates, then install it into your laptop.

All USB 2 devices will work with USB 1.1 ports, but slower.

Carbon Copy Cloner isn't even necessary. Disk Utility's restore function can copy a bootable drive to another drive.