That's a 6 1/2 year old operating system. OS X isn't like XP, it doesn't remain "current" for that long. I'm a developer, and I'd hate to have to fall back on old APIs just to support an ancient OS. It just means more work.
I have a ibook 1.2ghz running 10.4 and it works well, if extremely slowly due to the processor speed. I suggest that you ensure that all available software updates have been applied.
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Make sure it works with OSX 10.4. It doesn't.