2gb of ram should be fine.... i've 5-boxed before (not very efficiently) and it worked fine...

just set all 4 slaves to lowest resolution and settings, turn of sound on them, set max fps to about 10, and get your iPod hooked up to one of those iHome stereos (so you can listen to music )

BTW: this is what i'm workin with

Code:
Processor: AMD Athlon(tm) 64 X2 Dual Core Processor 4000+,  MMX,  3DNow (2 CPUs), ~2.1GHz    
Memory: 2048MB RAM
Hard Drive: 400 GB    
Video Card: NVIDIA GeForce 8600 GT