>> P4 with Celeron 3.06Ghz  CPU and 2 GB ram (single core)

VBox itself draws about 30 MB of RAM + 0% CPU (probably less than 0.1%
CPU). (this amount grows if u have many VMs)

You can surely run on this hardware, but for best performance, I
suggest using older OSes, such as Windows XP (XP-on-XP), or older
Linuxes, such as RHEL5/CentOS5.

-- 
-Alexey Eromenko "Technologov"

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