What to do with an old(ish) iphone?

So I was just given this old beater iphone 4s, and to be honest it is the first smart phone I have ever held in my hand.

I have just never wanted one of these things, but free is free.

I kind of want to see what I can do to push the phone and play around with it.

I know jail breaking an iphone is popular, but is it possible to go full tilt and run android on it?

I literally only need the camera, a music app of some kind, and preferable a light weight web browser. That't it. Other than that, I am hoping to find something that will keep cpu and ram useage to a minimum.

Safari, and the base camera and music apps are the best you're going to get. They're the most optimized.

Actually, a jailbroken iphone has tonnes of possibilities, and with it you don't need android. The native apps are really good and nicely optimised. Unfortunately the battery is more like a colander that is being used as a bucket.
But yeah, jailbreak and the world is yours

There was an Android 2.3 (or a similar version) port for the iPhone 3g, but it wasn't completely functional.

All of the web browsers you can download are pretty much a skinned Safari, so the only one worth mentioning would be Chrome because of the syncing of saved passwords and bookmarks if you already use that for other things (even though it's not always responsive).

Jailbreaking is nice to get some small tweaks to add or change some of the more basic behaviors of iOS. There is themeing, but I've always found that it basically boggs it down to the point where it's a heap of turd.

For music, the iPhones I've had around have lacked in storage, so I've always just used other things to listen to music. But the stock player works well, so I'd just stick with that.