Probably not. You meet the minimum requirements, but I can tell you from experience that you won't be able to raid on that machine as I found it very difficult on a machine quite a bit more powerful.
Here are the minimum specs:
Windows XP 32bit (SP3), Windows XP 64bit (SP2), Windows Vista 32bit (SP1), Windows Vista 64bit (SP1):
Intel Pentium 4 1.3 GHz or AMD Athlon XP 1500
1GB or more of RAM
NVIDIA® GeForce® FX or ATI Radeon™ 9500 video card or better
DirectX-compatible sound card or motherboard sound capability
25 GB free hard drive space
You must have an active broadband Internet connection to play
And the recommended specs:
Windows XP 32bit (SP3), Windows XP 64bit (SP2), Windows Vista 32bit (SP1), Windows Vista 64bit (SP1) Windows 7:
Dual-core processor, such as the Intel Pentium D or AMD Athlon 64 X2
2 GB RAM (2 GB for Vista users)
3D graphics processor with Vertex and Pixel Shader capability with 256 MB NVIDIA® GeForce® 8600 or ATI Radeon™
2600 or better DirectX-compatible sound card or motherboard sound capability
Broadband Internet connection
Multi-button mouse with scroll wheel recommended