P3 with xphome laptop sufficient for itunes/ipod?

[snowblown]

i dont have a great deal of hardware knowledge, but will a computer with these specs be ok running itunes, downloading from the net and trfing files to my ipod;

dell p3
750mhz
256mb
xp home
20gb
56k inbuilt modem

and if i buy it in the US, will it work fine in the UK (note i DO have a power adaptor - just wondering if anything else might cause a problem?).

also approx how many gb's/ram does the operating system, such as xp home consume on the computer?

hope someone can help!

thanks