I wouldn't even bother with Minecraft on it. I have enough experience with Minecraft on an 8600 GT to say that something even weaker is probably not worth having in graphics performance. Minecraft isn't an intense game, but it's not so light that it'll run well on just anything.
IDK if you'd even be able to hackintosh that system or not. Apple doesn't make drivers for anything except hardware used in their systems and hardware compatible with their hardware. I don't think that Apple has any Atom-based systems and you'd be gambling on hoping that they support the rest of that system.
Intel's mobile CPUs are not overclocking-friendly AFAIK and I wouldn't push my luck with an Atom system since they're bound to have crap cooling, especially in an ultrabook form factor.
Honestly, your best chances would be to find a laptop with specs similar or identical to one of the MacBook/MacBook Pro/MacBook Air systems if you want to Hackintosh it and even then, IDK if there are any. I admit I only have a little knowledge on Hackintosh systems and my best experience with them has been with custom desktops where you can make sure to choose compatible components.