Or more to the point.... will it run on my netbook?
(Intel Atom 1.66Mhz, Integrated graphics card (GMA 500?) and 1 GB memory)
IIRC it should be enough for the original prophecy, but what about all the extras you put in?
The most recent version of the game has cleared a lot of the problems that Standoff had with integrated video cards. I have one myself on my laptop, and I'm capable of playing Standoff just fine. The only thing you can't have enabled is HDR, as your integrated chip would sooner put a gun to it's head than attempt to render the HDR stuff. But enhanced starfields and enhanced lighting should work fine.
The minimum requirement is any machine being powerfull enough to be able to run Windows XP, and 128 Mb of RAM. Some really crowded missions may lag the game on machines older than Pentium 4, but it should work.
To be able to use the new OpenGL renderer you need a video card/chipset that's slightly newer; anything that was whipped with a Pentium 4 onward should work. Again, pretty basic.
Now to be able to use the new effects you need a fairly new video card, and the bloom effect needs a fast processor. How fast exactly ? We don't know, as we didn't have access to a wide rande of hardware to test; but since the game is free it's no big risk to try it out and report back, then we'll know !