No, its a horrible configuration. It will not run current games at all. Is that what you wanted to hear?
No you probably know the answer to your own question.
If you are going lay down some serious cash for a pc for some near top of the line parts then it should obviously play the latest games, that is unless it doesn't even boot up
By the way, I heard from some other posts that the prices on video cards may drop soon because ATI + Nvidia are coming out with the next gen lineup. May want to hold on the purchases, patience does reward those who wait.