There are only 2 RAM slots on the motherboard for the Acer Aspire 4530, so it looks like the maximum amount of RAM you can put in would be a total of 4 GB.
You should be able to upgrade to the following CPUs based on the motherboard's CPU socket and info from the Acer website:
AMD Turion X2 Ultra dual-core mobile technology ZM-80/ZM-82/ZM-84/ZM-86 (2 MB L2 cache, 2.10/2.20/2.40 GHz, DDR2 800 MHz) supporting AMD HyperTransport 3.0 technology
I would get the Turion X2 Ultra ZM-86 2.40 GHz CPU. I have seen it priced for about $130 to $160 USD on the web.
Here's a link for the higher priced one:
https://www.superbiiz.com/detail.ph...-X2-Ultra-Mobile-ZM-86-2-4GHz-35W-2MB-CPU-OEM
RAM would be at an DDR2 800 MHz clock speed.
Here's a link for a 4 GB kit (2 X 2GB) modules for $72.99 w/free shipping.
CORSAIR 4GB (2 x 2GB) 200-Pin DDR2 SO-DIMM DDR2 800 (PC2 6400) Laptop Memory Model VS4GSDSKIT800D2
Here's a Western Digital Scorpio Black WD3200BEKT 320GB 7200 RPM 16MB Cache 2.5" SATA 3.0Gb/s Internal Notebook Hard Drive -Bare Drive for $59.99 w/$.99 shipping.
http://www.newegg.com/Product/Product.aspx?Item=N82E16822136280
So it looks like for around $270 to 300 USD you can do what you're looking to do.
I hope this helps. Plus you'll need a Acer Aspire 4530 tech manual on how to change the CPU and hard drive. The RAM is real easy to change out.
This is the link to the PDF format Service Manual for you to view and download:
http://tim.id.au/laptops/acer/aspire 4530 4230.pdf
P.S.
I apologize for some of the "not so positive" replies here. What you are wanting to do CAN BE DONE and won't affect your Windows 7 product key as long it not an OEM key. IF it is an OEM key you may have to phone MS Windows Tech support to get a new validation code but other than that it should be... easy peasy, lemon squeezy.