It will be slow but you can do it. I assume you mean NT 4.0 or higher. One of my computers has NT4 and it runs fine; however it is 500MHz and has 384MB memory. Your lack of memory will definitely slow you down, and also inclines me to believe your laptop is probably fairly slow (slower than 500MHz) if it only came with 64MB. And since laptops have slow hard drives, you have alot of things stacked against the files playing WELL. However, you asked if DIVX will work, and the answer to that is yes.