Regarding you equipment specs.
FSOne software will run, but you will have to run lower resolutions and only in Pano mode. The issue you will have is that you will not be able to read any menus for adjusting the software. I had this trouble and believe me it is frustrating. Frankly I wouldn't bother. If you don't have a pc that meets the minimum specs put out by Horizon/FSOne, they wait or try someone else's software, because you will only be frustrated.

About the transmitter, do yourself a favor, no matter who's software you get, buy the version with the transmitter. This will be one less headache you will have while setting the software up.
Best of luck
Scott H