Yes, I've love it if you guys did this!
And colleenex, use your Mac OS X install CD/DVD and wipe the hard disk. install from scratch. done.
And if you don't have one, maybe you can buy one off ebay. (Make sure that version works on your hardware!)
Plus, word on the street has it that the $29 snow leopard upgrade works on any intel mac, leopard or not. see the wikipedia article on Mac OS X 10.6