I would not. You will be up around $550 with the add ons and no idea how old the battery is in there and if it needs replacing. For around the same money I would get a two year old MacBook Air and put Yosemite on there.
The point about the battery is worth noting. In my case, my Late-2009 Macbook cycle count is around 400. Not a brand new one, but fully functional. In fact, a Macbook Air has a better battery life, a Thunderbolt port and a slightly higher screen resolution. I suppose they are more comfortable on the lap since they doesn't heat as much as a Core 2 Duo processor.
The important thing to note is that an entry-level Macbook Air is around $1100, but you get just 128GB of (still) non-replaceable storage and 4GB of non-replaceable ram.
Regarding the white macbook, I'd personally get a 2010 one, which supports up to 16GB of ram and have a good 320M iGPU, which performs slightly better than a HD3000 and in certain cases matches a HD4000.