Keychain Access from Old Programs

I have a late-2008 Macbook (oh my gosh, 5 years old—ancient!) and it's not as lightning fast as it used to be. Just a couple quick questions.

1) Does removing Keychain Access passwords, certificates, etc. free up any space?

2) I noticed in Keychain Access there are passwords from old apps I don't have anymore or from apps I don't need passwords stored for. Is there a way to remove the passwords/certificates/etc. for the apps I don't have anymore?

Thanks for your time,

Bmeister

1) No... Your Keychain storage is likely to be less than 2MB. Maybe less than 1MB.

2) Highlight whichever one you want to delete, right click and select delete.

You're not going to free up any sort of real space by cleaning out the keychain.
Personally, I'd leave it alone unless you're just bored and trying to fill up your time with something.
Don't delete anything that you are not "sure" what it is.