You can give it to a Porygon and trade it so it will evolve into Porygon2.
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Absolutely nothing. :3 There's just a nifty certificate that you get, and you can use Pal Park in the newer games.
Oak's lab isn't in Pokemon diamond unless it's hidden. But you might be able to use action replay to make it appear. Hope i could help! Sorry the font changed.
you get it when you beat all the johto badges in the game and prof. oak will call you and give you a masterball p.s never let a sister use your pokemon games if she doesn't know pokemon and you have a masterball hope this helps!
if your talking about the item called upgrade than you can use it evolve porygon into porygon 2 when you link trade it.
You can use an iron, gold, or pre-existing diamond pickaxe to mine diamond ore or diamond blocks