How do I get my Macbook to charge?

How do I get my Macbook to charge?

I have an older Macbook - not the aluminium unibody, the white one. Bought
in the US.
All of a sudden it has stopped accepting the charge. Once I plugin the
MagSafe connector it goes to green immediately doesn't charge up the
battery.
If I remove the MagSafe connector, it powers down the laptop.
I have tried resetting the SMC - per the instructions on Apple's support
site. That doesn't work. Perhaps I am doing it wrong? Doubt it though.
I tried putting the battery in the freezer for 14 hours, that doesn't
work. This computer was not in storage, it had been in frequent use before
the battery just decided to die.
If the battery needed replacement, wouldn't putting it in the freezer for
a few hours at least give me back SOME juice?
I have OS X Lion installed on the machine.
When I go to the 'Power' section of my System Report, it says that the
Battery should be replaced now under Condition. The cycle count is 487 -
based on my readings, this sounds low (no??).
Thoughts?