ram would be fine for now.... but if planning to keep the pc for a few yeard then get atleast another 512mb ram. the rest doesnt seem too bad. whenever you feel your pc is outdated you can just buy new parts then. you dont need to rush into anything now
dude, my friend runs vista on a intel celeron 2.8 ghz s478, with 512 mb of ram and intel extreme graphics and it runs fine, so i think you should be ok. lol