i'm not gonna say it's "great", but i get by. my little bondi imac has had a pretty interesting life. it started standard, but soon i bumped the memory, put in a game wizard voodoo2 in the mezzanine slot, and had a floppy from an lciii soldered to the motherboard. who needs an imation superdisk????
well, apple took those two little luxuries away with firmware updates, so i cut the floppy cable and the card just sits there under the motherboard.
now, i've got 512 megs of ram and a 20 gig hard drive packed in her. like i said earlier, before my sentimental insomnia-inspired ramble, it runs ok. i can run photoshop elements and golive, but not with much urgency. that's about as hard as i push it, really. the new safari release is quite zippy, relatively speaking. iphoto crawls, of course, but that is my only *real* complaint.
as people always ask, what are you doing with your computer? i do some web stuff, mainly php but some simple page/graphic work, do some realbasic programming, things like that. nothing really processor intensive.
i'm really thinking about retiring her and putting her big white cousin on the desk, but i really don't *need* to. the monitor is about to go, though, i think. i get an occasional single popping noise with a quick screen shrink that goes back to normal so fast you barely notice it. but i do notice it...
anyway, i say go for it! you will need more ram, and as long as you're in there, put in a fatter hard drive. good luck!