500MB mysql databse in a p4 2.8G box

Hello
My forum is very big and busy , in peek time it can have over 1000 users online in past 30 minute . And it is 500mb mysql database , so i want to spare my forum to 2 server , 1 for apache and 1 for mysql . And a mysql server will be p4 2.8 WITHOUT hyper theard , 1G ram ,120G HDD . What do you think about it ? Can it handle my forum database ?

 

 

 

 

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