Can I install Sharepoint Services on an Acer WHS?

I'm sure you can install it, but it may run slow depending on how many people are using it. If you are just installing it for yourself to use as a test or to learn, it should work, slow maybe but should install and run.

I would not use that computer for anything more than a couple of people using it at once though, unless you double the RAM at least. Ther is no workaround for a slow CPU, unless you can call a new CPU a workaround :-)