Welcome on Ask Ubuntu, Colin Lewis ! The requirements for Ubuntu Desktop are the following :
- 700 MHz processor (about Intel Celeron or better)
- 512 MiB RAM (system memory)
- 5 GB of hard-drive space (or USB stick, memory card or external drive but see LiveCD for an alternative approach)
- VGA capable of 1024x768 screen resolution
- Either a CD/DVD drive or a USB port for the installer media
- Internet access is helpful
So your processor frequency seems a little low (I think you have 667 Mhz max). If I were you I would consider to install Xubuntu 12.10 or Lubuntu 12.10. They would be more appropriate.
Xubuntu and Lubuntu are both very nice, but if you ever have the opportunity to try Ubuntu out, you will probably like its interface a lot !