I don't know what you all are smoking I am running a 2.40ghz desktop on XP and it loads fine you all should check for spyware and otehr various killers. Your laptop surpasses my desktop and my desktop was designed for XP. Go for it. And also you only need 128 RAM for XP but I recommend at least a minimum of 256 RAM as does Microsoft.
a regular computer need at least 512. 256 is fine if you run a few programs and no AV and firewall. most people uses an AV ,spyware and firewall with quite a few programs and that seriously slows up a computer. if you do video editing, you need to start at 1 gig