I installed it on my beast of a desktop, and also on my laptop, that has

Pentium M (Centrino) 1.5 Ghz,
Windows XP SP2,
512 RAM,
ATi Radeon Mobility 9700

and it runs well. I turned off the anti-aliasing and such. I'd suspect with that better processor (lots of AI code in this game) and slightly more RAM, it should be fine, and the graphics card may scale down a bit, but I doubt you'll be heartbrokwn. It looks great on my laptop, much better than I thought it would.

I'd say go for it, but I already love this game.