That's fairly close to what I'm running (top 2 in England/Spain/Germany/France/Italy, top only in Scotland/Belgium/Portugal/Austria/Switzerland/Greece/Turkey/Holland = 18 leagues in 13 nations) and it runs nice on my 2ghz, 512mb ram machine, so you should be ok.
I'd recommend small db, you don't really lose very much. You'll have so many nations active that there'll be plenty of players to pick from.
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