Minimum PC requirements to run LMS

I'm tired of having to run my larger computer just to use LMS so I'm looking for an alternative. I've looked at NAS but there seem to be problems with most of the NAS versions of LMS, like not running all apps or streaming services. And I can get a cheap PC for about the same cost.

Would a Pentium D processor and 2GB RAM be enough? I can get a refurbished Dell with this and a 160 B drive, Win 7 and DVD for under $150. Any other suggestiond for something small that you can leave on all the time?