I run alot of my games that are intensive on :

P3 1Ghz
512 MB PC133 RAM
100 GB Drive ATA 100
GeForce2 Ultra Video
Blaster Gamer 5.1

Blah blah blah

You would be just fine with that set up

My new machine will be alot like that one you listed with a few bump ups. Mine will com in well over $1800 for nothing but the case and insides. (No monitor, stuff like that) I would take it and run.

Cheers

FYI: I am a system administrator and software developer who has been building machines since they were 8086XT's for IBM compatibles and Apples before that. Hope that helps.