Would this work as a gaming computer?

I am looking at a new computer to use for gaming. I want to play newer games like Fallout 3. I have a friend who says he can build me a good one for a little more than 0. I found a computer on the Dell website that i customized. I'm know a little about computers but I'm not an expert. Here are the specs for the Dell

PROCESSOR: Intel® Pentium® dual-core E5200 (2MB L2, 2.5GHz, 800FSB)

OPERATING SYSTEM: Genuine Windows Vista® Home Premium Edition SP1, 64-Bit

OFFICE SOFTWARE: Microsoft® Office Home and Student 2007

WARRANTY AND SERVICE: 1Yr Ltd Hardware Warranty, InHome Service after Remote Diagnosis

MEMORY: 4GB Dual Channel DDR2 SDRAM at 800MHz- 2 DIMMs
HARD DRIVE 320GB Serial ATA Hard Drive (7200RPM) w/DataBurst Cache™

OPTICAL DRIVE: 16X DVD+/-RW Drive

VIDEO CARD: ATI Radeon HD 4350 512MB

From what I have looked up the only thing I knew might not work was that the video card was older. If I bought a new one would it be difficult to change it?

What do you think about this one?

I guess this is a long question but any help is appreciated. Thanks
I forgot to mention I don't want to spend a ton but I also don't want a crappy computer that will be OK for a year then not run new games.

The Dell is 4

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