Windows 95

It doesn't look like it, if your computer can handle it why not upgrade to 98X but don't get "ME" it's a dog.
You need at least a 32mb video card and 256mb ram, preferably 512. The disk load they mention is a partial load.

http://www.microsoft.com/games/pc/fs2002.aspx

Look around the net, you can get it for a very good price now that fs9 is out.

Microsoft® Windows® 98/Me/2000/XP
PC with 300 MHz equivalent or higher processor
64 MB of system RAM
650 MB of available hard disk space; additional 100MB for swap file
4x speed or faster CD-ROM drive
8 MB 3D graphics card
Sound card, speakers or headphones required for audio
Microsoft Mouse or compatible pointing device. Joystick or flight yoke recommended
56.6 Kbps or better modem for online play