The t5500 has 32MB of flash and 128MB of RAM. It sounds like he upgraded the RAM himself and plans to load TC on the onboard flash. I checked eBay and saw them going for about $20 - $35 each. Not bad, really.
@3rail:
Even loading only opera and flash you may not have enough space. After loading the kernel + rootfs (about 10MB) you are left with about 22MB. I estimated the size of Opera, OSS, flash, and dependencies to be about 22MB. It may be possible, or you may be a few KB short. You'll have to try it to find out.
You will definitely want to trim the rootfs (about 1.5MB) by removing network drivers you know you won't need. If necessary, I suggest combining all of the necessary .tcz files into one .tcz to save space lost to partially filled disk blocks.