For what you are doing, the CPU is good. It's battery lite, so you'll get longer battery life from it.
From the space point of view, this is perhaps a genuine reason for consideration though. Some apps, like office apps insist on being installed on the system drive. And then there's windows, and the updates.
If you store media on your laptop, you'll run out of space eventually. Of course not everyone is a 'collector'. But you might take a lot of high res photos, or collect music, or want to install a number of apps - 128gb is enough, but it's not a wild amount of space.
You may NOT run out of space, but in case you do, down the line, it's better to sort of store some stuff in an alternate place, so that you don't have to uninstall or shift stuff around later.
Fortunately you have options here with this laptop. The laptop has an SD card slot. So you could put in a 64gb, or 128gb SD card, and store media, and some less intensive apps on that. You could also use one of the USB ports, and get a 'nub' style usb stick with 64gb or 128gb. Final option is to store media on a one drive account, with the 3 dollars per month 100gb subscription, and simply set it to 'download on request' so that those files are on the web, not on your hard drive.
You get 5gb free, but frankly that's too small. This is great for installing on your phone as well, so you can access photo's taken on your phone, on your laptop.
The SD is probably the best, because it doesn't protrude from the laptop, and you can leave it in all the time. Just get one with the highest speed possible, so if you install apps there, they don't run too slow, as it will be slower than your ssd.
Alternately you could just use it for media, and if you did, you could also run onedrive as 'download everything' (opposite of above), and autosync every photo from your phone, as well as have a cloud backup of any other media (music, movies etc)
64gb and 128gb SD are both cheap.
I've got a windows tablet with 64gb of internal space, and that's enough, because I have a 128gb microSD - and I have some media on it, loads of apps, even some games (and contrary to what was said, you should be able to play some very light games on your laptop. Like some 2d games, some light emulation (psp), and some low power 3d stuff - I find for example trine 2 works on a atom processor at lowest settings)
I just make sure I put as much stuff as I can, onto the SD. You generally however can only put media on your SD, unless you do this little process to make it recognize as a permenant drive. So if you are installing a lot of apps, that might be an issue because it's slightly technical (you have to run a script)
But because you have a 128gb main drive, are a light user, probably a 64gb SD just for data would do the trick.