Yeah, there's no way you need a 3 GHz CPU unless you play games or do cpu intensive stuff (e-mail, www browsing and typing documents do not fall into that category).
I reckon around the 1 GHz mark or lower (eg PIII 800) is fine. I bought a computer for my mum's business like that (IBM Netvista, P3 800, 256 MB RAM and Win2000 license) so I'm not saying one thing and doing another.
A large quantity of RAM is nice though.
I have an Athlon64 3000+ but it is at 100% cpu for 100% of the time. When it's not being stressed by flightsims, games or CAD it's doing distributed computing work.
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