I sort of doubt the 512MB of RAM because with S40 there really is no need for that much (because there is nothing that can use that much lol).
The 1GHz I believe if its an ARM11 as stated above.

And 'tis true that 1GHz ARM11 = ~600MHz Cortex A8.
So if anyone has an old android phone that's running/overclocked to 770MHz like a Cliq, that's similar performance to 460HMz Cortex A8.