The minimum requirements for a machine to run an application developed using VB.NET depend entirely on the application itself. The baseline, however, is determined by the minimum requirements required to run a simple .NET application.
Software-wise, .NET requires Windows 98, NT 4.0 SP6a, Windows ME, Windows 2000 or Windows XP and IE 5.01 or greater. The hardware that's required depends on the operating system being run and the processing and memory requirements of your application, but I find that a PIII with at least 64MB of RAM is required to run a .NET application tolerably.
This was first published in December 2002