I want to install Lion on my PC. Right now I'm downloading iAtkos L1.

Here are my PC's specs.

Intel Core 2 Duo E7400 @ 2.8Ghz
Dell 0R038D Motherboard (uses Intel G45 graphics)
2 GB RAM
ATI Radeon HD 3450 256 MB
256 GB SATA HDD
(Shitty specs, I know)

I have a lot of questions.

1) Would Lion work smoothly? If not, I'm going to install iAtkos S3.
2) Would iAtkos L1 install correctly?
3) Right now my hard drive has three partitions, a standard Dell Utility partition (39 MB FAT), a 212 GB NTFS partition (for Windows 7) and a 20GB EXT4 partition for Ubuntu (which I'm going to delete to make some room for OSX). Can I just (after shrinking the Windows partition) install OSX in the free space?