1- According to the webpage here
(bottom section): "Light Edition: Pentium 166 or better, 64MB RAM minimum, 1.8GB hard drive space for full system - more for your data."
2- Based on the above minimum specs I would think that it would work well on your system.
3- According to this webpage
your multifunction printer should work quite well with a bit of configuration; gutenprint (driver) should be included with Light and if not then it should be in the repository for easy installation.
4- USB support works quite well. HAL and VL-hot will both automate the process; HAL generally requires less intervention from the user but you might find vl-hot to be plenty.
5- VL6 Standard has spanish support so my guess is that Light does as well.