That should be okay for x,y,z, and e. I can confirm from personal experience that you can use that to drive a 1.75mm filament drive.
Less torque will translate to less acceleration. However, most printers' normal operation is no where close to the machine limits. Worse case scenario is that you have to get drive pulleys with a few less teeth which will reduce the top speed that you won't use anyways.
Edited 1 time(s). Last edit at 07/21/2013 02:41PM by nicholas.seward.