Can I record MIDI on this old PC?

Hi, while I go about the business of acquiring the PC I really want, I was wondering if with Reaper's low system requirements I should be able to record MIDI on my P3 with 500 MBs RAM? I do have about 10 megs free hard drive space. I have a Santa Cruz sound card which is not ASIO (I know I can't record audio with this setup, or at least it will be way primitive and not worth doing). Basically I just want to outline my songs and try out different keys to sing in while I await my new PC. What are my chances? Thanks!

I started out with REAPER 0.87 to .999 on a Pentium 2 / 350 with 256 MB RAM running Win 98SE. No problems with MIDI. Hung the PC a few times experimenting what VST's would work or kill the system.

Well I guess I have a killer system then! My PIII is flying at 650 mhz. Which VSTIs did you find were stable and easy on the CPU/memory for ancient PCs? Piano and electric piano being the prime suspects. . . I'll be using a Korg K61P USB controller which has 24 acceptable onboard sounds which might save the day. What about latency? Or is latency just with audio?