It's still usable but no faster than a 6.5w tablet or netbook while using 35w. It would be better with discrete graphics that can do some Hardware Acceleration to offload work from the CPU but even the IGP built-into the GM965 Express chipset can incredibly accelerate WebGL in Firefox (look in about:support) although not H.264 decoding in Flash so watching movies may get a little noisy.
It will struggle with Java-infested websites like Yahoo compared to more modern laptops.