system requirements for a laptop

how much ram and how fast a processor does one need, generally speaking, to work with a decent sized “full rock band” project? i want to mix/edit on a laptop, so if i had a session with maybe 20 minutes of audio, 16 tracks, with maybe 2 or 3 plugins on each tracks (eq, compressor, maybe a verb or chorus), what kind of specs are we talking? i’ve seen a lot of people with 2gigs of memory and a 1.5ghz processor…is that enough?

i intend to record the raw tracks on an older G4, then move the sessions to my Linux laptop via a firewire drive. i’d store most of the sessions on a firewire drive, moving only what i wanted to currently work on onto my laptop. the g4 just can’t be upgraded a smuch as i’d like, plus i want to be able to edit and mix at home or at work with the laptop. does anyone else do anything like this? hints/tips/suggestions?