Well, your video card is not on the compatibility list on G3's website. That is probably the killer. Looking at everything else though, it should run fine. One question though, is your processor a Pentium 4 or a Celeron? If it is a 4 it will work but if it is not, the Celeron may not be enough to power it. Your best bet is to go get the demo from G3's website. Here is link.
http://www.realflight.com/free-g3-demo.html
Install it onto the laptop and see what happens. If it doesn't, look into upgrading the video card.