Is my System good for todays Games?

depends on what games. your specs are good for mid range games (m effect, dota,) but definitely not suitable for games like crysis, NFS, COD and similar games (well, you can play them but with low settings and lag). to play high end games, you might need at least a quad core like intel Q8400 or better at least i5. try to put 4GB or ram most preferably ddr3 but ddr2 will do. as for the gpu, try going for ati radeon 4000 series.