Dreadnaught,
The project I just mixed was done mostly on my Dell Inspiron 8200 laptop (1.6 GHz P4, I think, 256 Mb RAM, stock soundcard). I had tracked everything with my Mackie MDR recorder (20 tracks/40 minutes live), then dumped the files via firewire into the laptop. I was travelling for about 5 weeks, and had this project to get done, so thought I'd give the new software a workout. I only used the stock plugins. Preliminary mixes were done with headphones only (couldn't carry my Event monitors with me).
Final mixes and pseudo-mastering were done at home on my home stereo with a set of JBL 4311 studio monitors attached (this started as an experiment that actually provided really good results, so I may have found a way to do my imitation mastering in a different room with different monitors than I normally mix with).
Anyway, I hope that answers your question.
Darryl.....