Should I upgrade?

I have inherited a desktop with the following specs:

http://support.dell.com/support/edocs/systems/dim2400/en/sm_en/specs.htm

I am now using a laptop with a 1GHz processor and 512MB ram, XP Pro.
Any thoughts on the idea of using this inherited machine for Photoshop?
Of course, I would put a larger IDE drive in it and increase the memory
to 1GB - also add a DVD drive. Not familiar with the on board graphics
card. Let me know if you need more information. Thanks........
.

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