There are no official System Requirements for minecraft, although it is a very RAM hungry game. So, I would recommend at least 2GB RAM, a decent processor (maybe dual core @ around 2.5gHz) and a decent graphics card. Also, although not massively important, a decent HDD with plenty of free space.
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Check against the system requirements for Minecraft. Try the recommended ones first - if they don't fit, try the minimum requirements.
There is no system for Minecraft that only has the minecraft colors that can help you make the pixel art.
Yes, as you get better and higher quailty of java and lot of memory, more faster the minecraft will run. More importantly, it is better to have the correct version of Java based up whether your operating system is 32-bit or 64-bit. I have included in the Related Links section below. There is also a program called Minecraft Portable that you can download that lets you install Minecraft onto a USB stick or other portable storage device. Minecraft can then be played on any computer, even without Java. You can also use Minecraft Portable to install Minecraft onto a computer that does not have Java or the Java is not working, or the necessary version. See the related link below for system requirements.
A friend system is not built into the Minecraft game. Some servers have a friend system, the command is usually /friend add <name>
print screen key on keyboard, if you have steam, you can run minecraft from your library and use the steam screenshot system.