Old hardware. Which Xubuntu version is better?

Good day,
I would like to install Xubuntu on old Gateway DX4200-09 desktop. Its specs are here (it seems to be in stock configuration, no discrete graphics card):
http://www.cnet.com/products/gateway-dx4200-09/specs/

I choose Xubuntu, because I use it on a virtual machine and its the only distribution of Linux I have experience (my main OS win7). Which version of Xubuntu is better for such an old PC?
Can I install the latest version of Xubuntu?
The PC will be used mostly for web-browsing and C++ development (with Eclipse).
Thank you.