What to do with an old android phone?

I found an old android phone, except that it has some password protection over it, so I have yet to enter it. I was thinking just wipe it and reinstall a variation of android onto it, but I am unsure how to or which to install. It is a droid a855, I will attach a link to specs below. I mainly would like to use it for music and android applications varying from reddit to dropbox, etc. Basically I want it to make up for what my iPhone is not. Any ideas or suggestions are welcome.

 

http://www.phonearena.com/phones/Motorola-DROID_id3853

 

Use it for media purposes?

google "(phone name & carrier) stock rom", "(phone name & carrier) rooting instructions", "(phone name & carrier) flashing instructions"

music, youtube, videos etc.

I've never done any rooting or such with phones before, you know of any sites or guides for a step by step?

install cyanogen mod, and use it for retro emulators and psp games

http://download.cyanogenmod.org/?type=stable&device=sholes    

heres the easy way to put it on  

http://beta.download.cyanogenmod.org/install  

How/where do I get the emulators and such?

Ah, the OG Droid...

Grab a 64GB microSD (just format it in your phone, then you should be good to go), slap Cyanogenmod 7 on it (there are a few more recent Android builds on XDA, but I'd stick with CM7 for speed and reliability), and fill it up with music, movies, and junk.

If i had an old android phone i will used it in other purpose such as making it MP3 and other kind of possible stuff.Before when i was working in samsung service in Helsinki at http://www.hetihuolto.fi/ i recommended not to sell those people old phone and make it useful to them.