I have been using Celeron processors in my computers since they were introduced. The early processors could be overclocked (or run at a higher speed than they were originally designed for) and could, in some instances, outperform their non-Celeron counterparts. My daughter's computer is still running an overclocked Celeron. I upgraded my primary computer to a 1.4Ghz Celeron processor and it has served me well. I will admit to having purchased a 3Ghz Pentium 4 based refurbished Dell computer in order to process videos faster, and my son has a 2.4Ghz Pentium 4 refurbished Dell computer that he uses for videogames.
If you are planning to play a lot of high end, graphically detailed video games or if you are planning to do a lot of video editting, the Celeron might not be your best first choice. Otherwise, that processor should work well for you. More than likely you will encounter other bottlenecks (disk access speed, amount of memory) that will do more to slow your computer than will a Celeron vs non-Celeron.
Just my opinion. And my experience.