It does have an Intel processor, USB, and I suppose it has some sort of right click emulation, so I would guess that the main issue would be the screen size / resolution. I would play around with a PC, setting up that screen resolution (or at least that window size) for a test to see if you can work with it. You can reconfigure the GCS to work on a different size/shape screen, but there are some things that are fairly large all by themselves.
I would recommend that you get a new battery for your old laptop. Ebay has new batteries (make sure you buy new) for older laptops that only cost $15 or so. I have bought 5 or 6 batteries for 4 different laptops and been very happy with them (and my friend that I bought one for too). If Windows is sluggish, reinstall it or install Linux on it. I personally reinstall Windows, then make it dual boot with Linux. I don't really use the Windows part any more.