Not recommended as the performance will almost certainly not be acceptable outside of a lab environment. SmartEvent will probably work but the Smart-1 50 has a dual-core Intel Xeon E5410, whereas 4 cores are strongly recommended for R80. If the E5410 supported hyperthreading (it doesn't) you might have been able to get away with it assuming the Smart-1 50 also had 8 GB of RAM (the Smart-1 50 originally shipped with 4GB RAM).
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