Hello,
I have an Aspire 5745G notebook with 1st generation intel core i7 640m dual core processor @ 2.8 GHz, 4GB DDR3 RAM, 1GB GT 420M GPU with 500GB 5400RPM HDD. These hardware can surely manage Windows 8.1.
 
Also I'm going to attach a result of windows upgrade asistant below. Check it out.
Windows 8.1 Upgrade Assistant
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Windows 8.1 Upgrade Assistant Report
 
| Computer name: OSANDA-PC | 
| Operating system: Microsoft Windows 7 Home Premium | 
| Manufacturer: Acer | 
| Model: Aspire 5745G | 
| CPU: 2800 | 
| Memory: 4194304 | 
 
For you to review
 
  | Install an app to play DVDs You may need to install an app to play DVDs in Windows 8.1.  | 
  | Secure Boot isn't compatible with your PC Your PC's firmware doesn't support Secure Boot so you won't be able to use it in Windows 8.1.  | 
 
Compatible
 
  | 1.3M WebCam Microsoft  | 
  | Atheros AR8151 PCI-E Gigabit Ethernet Controller Atheros  | 
  | Broadcom 802.11n Network Adapter Broadcom  | 
  | HID-compliant mouse Microsoft  | 
  | Intel(R) Display Audio Intel(R) Corporation  | 
  | Intel(R) HD Graphics Intel Corporation  | 
  | NVIDIA GeForce GT 420M NVIDIA  | 
  | Realtek High Definition Audio Realtek  | 
  | Synaptics PS/2 Port TouchPad Synaptics  | 
 
According to these details, only 'secure boot' is incompetible with my system because of no UEFI fw.
 
So, which O/S would be better for me?