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there is an extremely high risk to kill the computer. And on laptops, Bios chips are normally soldered, not socketed.
The M2300 has a faster Front-side bus
EDIT: The chipset is basically the same (PM965/GM965). Also, the FSB is determined by the CPU.
Main difference is the VGA: Latitude was available with integrated VGA and optional separate VGA. Precision always has separate VGA. For details please Read The Famous Manual. And since the VGA Bios is part of the motherboard Bios (at least on laptops), you would kill the laptop if you would manage to "crossflash" it.