Your specs show 320mb ram, which is a little low for installation of Mint 'Main' (Gnome). Clem states in the Release blog that 512mb is recommended for installation, but should run on less ram once installed. There have been some forum posts regarding installation with less ram, you may want to search them up before taking the plunge!
I have an old pc with 256mb, and I decided to go with the Xfce community edition, and it installed with NO problems whatsoever!
Very fast too!
Only version 6 is available at present, The version 7 (Gloria) community editions are going to be released within the next week or two.
ps: ram is pretty cheap nowadays!