It will do much the same things, but as you say it's an old IBM ThinkPad you shouldn't expect it to perform like a new machine. ThinkPads are among the best laptops ever produced in terms of build quality, and people who have owned them - like me - tend to regard them with affection.
I'm sure you'll have no problem getting to know this computer - just remember that you'll probably have to use it with the mains adapter for much of the time - if it's old the battery may well be nearing the end of its life.
I always use a mouse with my laptops - I find the trackpads/buttons far too fiddly. You might feel the same. Apart from that, just use and enjoy your new acquisition.