GEdit has definitely grown from a "notepad clone" to a powerful programmer's editor that still keeps a self-explanatory, simple interface.
If you're looking for something light on low-end hardware, GEdit is not for you, and Leafpad may be a better choice (as well as other editors that share similar goals)
I regularly use systems in the 500-700MHz range, and GEdit seems fine on it, so I'd say for a large portion of computer users, GEdit would not feel slow.
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