Perfect, around 120 frames per second (according to FRAPS).
If you want to play at 1024x600, download ReSolution, extract and copy it's contents to the Worms 2 folder.
With this, you'll need to start the game directly through frontend.exe.
In video settings, set the detail to Full, including parallax background.
How much I played
Finished the 45 Missions.
If you are playing on a resolution greater than 640x480, in a Replay the TV's frame shows up at the center of the screen.
SHOULD YOU PLAY IT ON A NETBOOK?
It's a fun game, and it suffers no slowdowns.