They keep the clock alive, they maintain current to the Parameter RAM which stores the basic settings like startup disk, mouse speed, video settings etc. They also provide the 'jump start' to turn the machine on when you hit the keyboard power-on switch.
You'll want to replace the PRAM batteries if you want to use the machines at all. Most Macs take a 1/2AA Lithium 3.6V cell. Many Performas and consumer 80's vintage Macs took a 4.5V Alkaline cell.
Do current lines of PowerBook and iBook have this PRAM battery? If so, how many months/years before you need to replace those batteries. I read somewhere PB and iBook do not require replacing PRAM battery.