Specifications of the Firefox OS Developer Preview Devices
hacks.mozilla.org
hacks.mozilla.org
On the other hand, if it runs smoothly on this, it should run smoothly on more sophisticated devices, so it's probably a pretty good test platform.
(One exception: not enough pixels on screen to stress the graphics hardware.)
I'm more worried about DPI/PPI scalability. In theory web-based content should scale rather well, but reality is always more complicated than that.
It would be interesting to see if one of those Open devices or OS succeeded but it needs more than "open" for that.
No, not really. Eg. Galaxy Nexus from 2011 has significantly higher specs than this. Quickly looking, Galaxy S (from 2010, 2.5 years ago) has similar specs.
edit: Nexus One (also from 2010) has almost identical specs. But even in 2010 high-end seemed to have transitioned to 800x480.
Most probably I will consider it for buying to my mother then.