Why don't you just try it if you've already got the hardware? 
At any rate, have any other games in mind? In general, it should do alright, taking into account its turbo boost capabilities, though full-speed in especially demanding games will be out of your reach. Unfortunately, Xenoblade falls into that category with LLE audio turned on. It'll be playable, but not at 100% all the time. Have a look at the Dolphin Wiki entry for this game, as others have posted their specs and corresponding performance. You should also check it out for any other games you're interested in.
At any rate, have any other games in mind? In general, it should do alright, taking into account its turbo boost capabilities, though full-speed in especially demanding games will be out of your reach. Unfortunately, Xenoblade falls into that category with LLE audio turned on. It'll be playable, but not at 100% all the time. Have a look at the Dolphin Wiki entry for this game, as others have posted their specs and corresponding performance. You should also check it out for any other games you're interested in.