[LAU] Live bass guitar -> analog synth on a 2007 laptop: viable?

Hello fellow Linux audio users, I'm back to dabbling with Linux as an audio system. Among other things, I play bass guitar in a synth pop band and recently started to get interested in bass synthesizers. I could of course buy something like Markbass Super Synth, but then I thought - maybe I could cobble together something using my Samsung Q35 laptop and Linux? The laptop has a dual core processor and 2.5GB RAM. The sound card is a variable here: it could be the built-in Intel HDA (for this particular purpose, why not), or an Infrasonic DeuX (Firewire) that I have, or even some used Echo Indigo (PCMCIA). Is what I want viable at all with a reasonable latency? What software setup can I use for that? Does anybody here use something similar live? Regards, Artem Vakhitov