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The only thing you are light on is the processor speed.
Some people have played it with systems simmilar to yours.
It is up to you if you want to try it.

Here are the official requirments.

Minimum requirements
• Windows® 98/ ME /2000 /XP
• Pentium III 450 MHz
• 128 Mb RAM
• 600 Mb Free Hard Drive Space
• 4Mb Video Card DirectX Compatible
• DirectX Compatible Sound Card
• DirectX 8.1 or higher (included on the CD)

Recommended
• Windows® 98/ ME /2000 /XP
• Pentium III 800 MHz
• 256 Mb RAM
• 600 Mb Free Hard Drive Space
• 8Mb Video Card DirectX Compatible
• DirectX Compatible Sound Card
• DirectX 8.1 or higher (included on the CD)
 
Yes it would be "at your own risk" so to speak.
 
Depends on what kind of components you have as well.
 
Classique said:
Thanks for the advice, guys! I'll see if I can upgrade my computer over the next few months first.

Always a good idea.
More power arg! arg!