I'm guessing the RAM is the old 30 pin. Might wanna check to be sure. Those are getting hard to find in the larger size and are too expensive when you can find them. I might have a few 1 meg sticks. The 72 pin RAM is easier to find and I have several 4 and 8 meg sticks of those.
I know for sure that I have one 486DX-33 and one 486DX-66 CPU and maybe a couple others. You'll need to figure out what CPU you currently have in that sucker and if it's in a socket that allows removal. They have a special tool that removes the CPU from the socket. I used to have one of those tools once upon a time, but I have no idea what happened to it. You'll also need to figure out the system bus speed. If it's a SX, then it'll probably be 20 or 25 MHz.
Chances are you can't update the BIOS or if you can, there will be no update that allows you to use a larger harddrive. After it's all said and done, you spend a bunch of time and money on this and you still have an obsolete computer that will barely run WIN95 (forget about WIN98 or newer). The Tandy might be all proprietary, and if so, you might not be able to upgrade stuff for it anyway. Personally, I don't think it's worth messing with.