This is from S60 3rd Ed. MR release note:
But I don't personally feel this is enough. But they have mentioned it as a Basic Requirements ;)
- Microsoft Windows XP SP2 or Microsoft Windows 2000 SP4
Tested with Windows XP SP2.
- IDE: CodeWarrior for Symbian OS v3.1
- ARM RVCT compiler 2.2 build 503 or newer is supported.
(Version 3.0 is not supported by SDK toolchain)
- Minimum 1 GHz Pentium PC, 256 MB of memory
- Up to 1.5 GB free disk space, other requirements as required by the IDE
My system configuration is P4 3.00 GHz with 2 GB of RAM. Still the emulator seems to be taking more time but it's better than worst.