Listen, I can't say for certain, but apart from the cpu being a little ancient, the hardware thing doesn't look too bad.
As far as making sure about worries of compatibility with MS Orifice, you could get hold of a copy of crossover office from codeweavers
. No, it's not free if you look at the link, at the moment it's 36$.
You could learn wine or wineX and get your mso app's running under linux or course, but for nice straight forward ease, I got the crossover office and then just installed mso 2k pro. Straight in, Word, excel, powerpoint,access,frontpage, the bloody lot (oh and a couple of unsupported apps as well i.e. a backgammon game etc etc).
If you're new to linux, it makes the initial experience easy, by all means get open office and learn that too, most mso stuff should open/run, AFAIK, at the moment the only things that are a struggle are very complicated excel spread sheets and macro's, because mso uses visual basic and Open office doesn't. Oh and my crossover is version 3.01 and "clippy" doesn't work, but that's annoying as hell (I didn't try any of the other office assistants).
36$ is cheap for initial peace of mind.