Don't worry Growler, although a 512extra Ram to make it a Gig wouldn't hurt... :hmm:
My Radeoncard has 128 MB as well, and my chip can run 1.8 Ghz at max. So there you go...
My advice is to get to extra memory and you'll be fine

(Unless you're planning an motherboard etc... upgrade soon - wich means my Gig of DDR1 is useless, sigh, it's all
DDR2 now, ooooo.. grrrr....but that's another matter

).
And you might want to keep an eye out for the Light Harbor Traffic GWX-submod... it's included in the GWX download I think. Makes harbors somewhat less laggy, that's the only thing that makes my pc do hickups where GWX is concerned. On the open seas you'll be fine! Gute Jagt!