I am running 1GB DDR2 @ PC6400 and it consumes around 700MB w/basic apps installed and running.
So Aero should work well with 1GB unless u want to do heavy gaming(BF2,Stalker etc etc).I have run games like FIFA,HL2,CS Source no probs at all.
The real question is whether u have a good enuff GFX Card tu run Aero IMO(Assuming u have1GB of RAM).