Not bad depends on the price. I'm too lazy to look it up.
If you're a gamer the CPU is a definitely plus.
But the GPU is less than stellar on that machine. You know the old saying "a computer is only as fast as its slowest component".
That GPU will bottleneck your potential visual performance. I recommend buying a new GPU which is at least a 9800 pro with that CPU. You should try to maximize what you got.
I would also double that ram to 1 gig and what type of ram is it. If you can get it dual channel PC3200.
Everything else looks fine unless if you're extremely picky like you want to play on a 21' Flat CRT or you download 1000000 mp3s LEGAL mp3s and need a gazillion storage space.
Like I said it depends on the money but I reckon that system is not worth more than $1500 CAD.