It may be possible at that.

http://www.youtube.com/watch?v=4WPFT3XG8V4&feature=related

Windows 7 Ultimate on a 13 year old computer. Another 10 minute one, I didn't wait to see if it fully loaded but I assume it did.

Intel Pentium II 350MHz
256MB PC133 RAM
ATI Rage 3D Pro 8MB
80GB hard disk

happy

Mark