Final Cut Express 4 System Requirements

I'm trying to determine if my iMac is good enough to run Final Cut Express 4. I plan to edit home movies transferred from mimiDV tapes and 720p/1080p from my newer video recorder.

My system specs are:
Model Name: iMac
Model Identifier: iMac7,1
Processor Name: Intel Core 2 Duo
Processor Speed: 2 GHz
Number Of Processors: 1
Total Number Of Cores: 2
L2 Cache: 4 MB
Memory: 3 GB
Bus Speed: 800 MHz

If you have experience with this program I would appreciate your thoughts. Thanks.