Run, yes.
Run well...depends
I was considering a mini (as per the thread I started below). However, I went into the Apple store today and had a bi of a play with the snow leopard server model (which had faster processor, HDD and double the ram of the base mini). Seemed quite snappy, but it took a good 5 bounces to open photoshop elements.
Am going to go back and have another play with it, but I think I will probably wait until they get the i3 treatment, hopefully around feb/march 2010.