friend of mine bought himself a compaq some years ago which sucked big time. it was a total waste of money to him, it was that bad (quality of parts, configuration was horrible. was totally overloaded with stuff noone needs but slowed down the comp etc.
another friend got himself a compaq laptop around 18months ago, which wasnt all that great, but a good deal for the price(rather ok parts, only unstable at times. tended to crash to often for my liking)
however, another friend of mine bought himself a wide-screen compaq/hp 2months ago, with a centrino processor.
this thing absolutely rocks, material wise and configuration wise, on the soft and the hardware side(i really envy him for it a bit, since it looks way better than mine does).
so i guess, they did a lot to improve their stuff over the time.
mind you i only know this single compaq laptop from recent times, but this one is absolutely awesome.