Will this make a good gaming system ??

You will want a little better graphics card... If you are on a tight budget I suggest the 4670 from ATI. You can buy it on newegg.com for $80 shipped. Also newegg has 64bit vista premium OEM operation systems for $99 which is a real bargain price over buying the full retail, which doesn't really account for much... You will need a DVDrom for Vista... If you want to go xp newegg also has OEM xp for $89...