Yes it will.
I am running a setup like that (but more ram) But it works great! - I can run 3 instances of secondlife on ultra before i get lagg
Also, please look at the secondlife requirements:
https://secure-web1.secondlife.com/my/support/system-requirements/?lang=en-US
If you require some more info, please re-post and we will look into it!
Cheers,
Daemon hawkeye