Formally yes, if your computer uses at least 1gb (DDR) RAM or above. My experiences shows that even a computer with P4/1gb DDR can run PS, but not the recent versions. CS3 or below will work perfectly for beginner stuff. Again, from my experiences, I can tell that if you wanna run CS5 or above (which most people requires nowadays) a C2D equivalent CPU with 4gb DDR3 RAM will be enough to do some simple work on PS. But when I try to handle several layers on several tabs, my C2D computer feels a little bit sick. So, if you’re gonna deal with complicated stuff, you’ll need a newer CPU with more RAMs, and even an SSD.
I hope it will help some of you guys/gals.