The Celeron M 353 is a pretty anemic processor. If you’re sold on a netbook, you’d be better off with something like the Acer Aspire One or the MSI Wind. The Intel Atom processor used in these models isn’t exactly a barn burner, but it performs significantly better than the Celeron M. Like the Asus, both of these models have a gig of RAM, 120 gig hard drives and come pre-loaded with Windows XP Home.

Its definitely good enough. I had itunes running on my eeepc and it had slightly worse specs than yours (less ram). There are plenty of better alternatives though that arent as resource intensive.