Your system spec should run DVD WorkShop properly.
As I know, Pentium M (Centrino) is a little faster than Pentium 4 if compared at the same Hz, but it does not have Hyper-Threading technology, which Pentium 4 will have.
Pentium M have better power management architecture than Pentium 4, for it's for mobile system.
According to the information stated in Ulead website (
http://www.ulead.com/dws/sysreq.htm ), I think the CPU and the hard disk of your laptop are good enough for DVD WorkShop.
Hope this helps.
H.T.