This PC is the Fiat Punto of computing. Inexpensive, small, quiet, energy efficient and will get you from A to B. Here is a summary of the most important specs:
Processor: At the core of this is an AMD A4-5000 APU. This processor is by no means a speed demon, and why would anyone expect it to be at this price point? It's actually an ultrabook processor designed to be energy efficient and enough for basic usage. Most people use their PC's for web and general productivity so this is actually adequate. You won't have any problems running Chrome, Spotify, Outlook and Word on this. Fun fact: This is the same line of processors used by the new PlayStation 4 and Xbox One.
Graphics: This has an integrated Radeon HD 8330. Performance wise, this is similar to Intel's Ivy Bridge HD 4000. This will easily handle HD movies including YouTube videos at full quality 1080p as well as some light gaming. It won't run Crysis 3, but you'll easily get plenty of mileage from less demanding games.
Memory: The 4GB RAM you get is going to be enough for 90% of people. Unless if you have a lot of programs running with multiple tabs open at the same time (in which case, I suggest you seriously consider if you need to use a PC that way) then you won't max out the memory in the near future. 8GB is the "comfortable" amount for most though and upgrades are fairly inexpensive on sites like Crucial.
Form factor: This thing is slim and light. It takes up very little space. A prime candidate for a bedroom, small office or HTPC under your telly kind of setup that's easy to move around. The workmanship is pretty good with a clean lines and nice little extras like the card reader and front facing USB ports. Nothing special but good to have.
All in all, this is a charming little machine that will handle the basics without breaking the bank, making a dent in your electricity bill or using much leg space under the desk. I use this mostly as an HTPC and it works perfectly for my needs. If I could change anything, I would go for the slightly faster Pentium G2020 or core i5 just for future-proofing, but I really don't see myself needing the extra oomph for the next 3 years or so. At this price point I highly recommend it.