They're most likely not going to be good enough for realtime divx. What you could do is encode in a mostly lossless format or in something like mjpeg and re-encode to divx at a later date.
I'd say get something like an Athlon 1700+ or a P4 2Ghz or higher to give yourself a little breathing room for good resolution realtime divx.
Depending on what resolution the divx is at, 800 might not even be enough for playback. Which means, just for playback, you need the 1ghz. Realtime encoding is out of the question unless you don't care about quality or you choose faster codec.
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