Arun,
I have performed data acquisition on a computer with lower specs than the one you described, at rates greater than 1 kHz. I don't quite understand the "waveform chart support" portion of your question, but if you are asking if it is possible to plot the acquired data on a Waveform Chart in LabVIEW, this should not be a problem.
If you have more specific questions, let me know.
-D