Is it good to save tempdb and log files in one drive?

My server has a very 40GB drive for OS, two 2TB drives and one 450GB drive. The server will have about 10 databases; the total data size of the databases is about 1.4TB. Most of the databases are using simple recovery mode. The users love to create big temp tables and sometimes they create large transaction logs.

Is it ok to put all the tempdb files and log files (include tempdb log file) in the 450GB drive?