And it runs a browser and web pages that require Java and flash ok ?
(that is a genuine question not a flippest remark)
Not a chance sadly, I don't think it'd even run a flash radio stream properly. Flash on Linux is a horrible resources hog - but even "reasonable" amounts would be more than the specs you provided sadly.
Give it a try on a live CD or something, but it'll probably be choppy at best, or crash at worst.