I deconstructed a 700c, which wasn't too bad, but you have to keep tabs on exactly what screw came from where, and lay out what you remove in order so you can work back in reverse.
The only elecrolytic capacitors on the main system were 3 on the DC/DC board:
I've replaced 1 with a tantalum and the other two with new electrolytic. The only one which was leaking was a surface mount 47u one.
You need a reference disk to setup the system once you have replaced the CMOS clock battery.
Ok, we're in business. Set the clock, ran all the tests, the ESDI drive is fritzed..... ideas?!
I read that PS/2 ESDI isn't what everyone else called ESDI, so I guess until some really fanatatic nerdy person decides to either emulate or adapt specifically PS/2 ESDI, this machine is stuck with floppies!
The ESDI drives are made by IBM, of course, in a removable cradle that was only used in the 700 & 720. The N33sx, N51sx/slc, and CL57sx would probably have used the same basic ESDI drives, albeit permanently mounted rather than in removable cradles. Both the N51 and CL57 were also MicroChannel machines.
Remove Power-On Password (700, 700C)
To disable the ThinkPad 700, 700C power-on password, do the following:
1. Power-off the computer.
2. Remove the battery pack and the bottom cover.
3. Locate the password-override connector on the system board. (See 'System Board')
4. Install a jumper between the two pins at position 1.
5. Power-on the computer and wait until the POST ends.
Remove the jumper from the password-override connector when service is completed.
To get more 700/700C info, get this and also this.