A:AnswerAccording to the Lenovo spec sheet for that laptop, this Kingston SSD should fit. But going from a 320GB drive to a 120GB drive would be more of a "downgrade" than an "upgrade" due to the loss of storage space. Until recently I was running my own Lenovo notebook with a 120GB Toshiba mSATA internal drive, and had to replace it with a Kingston 240GB mSATA drive as I was running out of space.
You should consider expanding your 4GB RAM memory too.
A:AnswerPossibly. The HDD used in that laptop seems to be SATA 1.0 (1.5Gbit/sec). The Kingston A400 data sheet says the Kingston SSD is SATA 3.0 compliant, and backward compatible to SATA 2.0. Kingston doesn't say anything about SATA 1.0. But the SATA standard says that SATA 3.0 drives are (should be) compatible with SATA 2.0 and SATA 1.0 controllers.
Good luck.
A:AnswerAFAIK the 2.5" disk drive SATA connector is standard (mechanically and electrically), regardless of the SATA speed. According to the A400 spec sheet, the Kingston A400 drive is SATA 3.0 compliant, but is backward compatible to SATA 2.0.