My rule of thumb for buying laptops (since the mid 2000s) has been that compaq is the bottom-rung cheap brand that should always be avoided. Not sure their survival has been a good thing.
I bought a Compaq laptop with a 64-bit CPU for under $1000. It ran flawlessly for over a decade, needing only a new battery. I eventually gave it to my parents who still have it.
HP had already been racing to the bottom for years, though.