Having had a quick look at the benchmarks for that processor and taking 'good' to mean can it compare with relatively modern processors, the short answer is no. It is at the low end of the 'low performace' processors on CPUBenchmark, which should tell you enough. Just to clarify I assume you are looking at the Intel Pentium 4 2.80 GHz, which is the only one I could find using that socket.
But as was said, it depends what you want to do with it. If you are only looking for a really basic processor this might be fine, so please let us know what you are using it for and we can provide some more useful advice.
Here is a link to the 'low performance' section so you can see how it stands up: click here
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