You probably won't be able to play high definition videos on an Intel atom
system. I would also say 1GB of ram is inadequate to run even Trisquel 6 LTS
at this point. You can probably get away with 2GB though.
3D acceleration is going to impact you more down the line. Trisquel does not
need 3d accelerated card right now. However if it moves to a desktop
environment that depends on 3d acceleration your system won't work any more.
"3d acceleration" is used elsewhere like with video playback too. It's not as
big of an issue so long as your CPU is capable of doing the decoding. That is
an issue with an Intel atom like you are describing though.
The other place 3d acceleration is used is games. Though even with 3d
acceleration support your gaming options are going to be on the limited side.