Maybe, just maybe by the skin of your teeth. Sometimes dells are a bit better at the low end but if you shop around you might.
Is there anything salvageable from the old system, HDD, monitor etc. if you don't have to buy everything it saves a bit especially if you can make do with an old monitor.
Antec Sonata III Piano Black Quiet Case - EarthWatts 500W PSU £69.99
Intel Pentium Dual-Core E2180 "LGA775 Core 2" 2.00GHz (800FSB) - Retail £41.99
Gigabyte GA-P35-DS3L Intel P35 (Socket 775) PCI-Express DDR2 Motherboard £51.99
OCZ 2GB (2x1GB) PC2-6400C4 Dual Channel Platinum Revision 2 XTC Series DDR2 (OCZ2P800R22GK) £23.99
Asus GeForce 8600 GT OC Gear HTDP 256MB GDDR3 HDTV/Dual DVI (PCI-Express) - Retail £45.99
Maxtor Diamondmax 20 80GB SATA-II 2MB Cache - OEM (STM380215AS) £21.99
Very quickly I knocked that together which with VAT comes to pretty much £300 on a good but not always the cheapest website http://www.overclock...co.uk/index.php
its a good uk site with the best selection of kit so if you are looking then pick stuff out on overclockers then see if its cheaper elsewhere, the big stuff is usually cheap with OCUK which means that sometimes even though you can get some things cheaper elsewhere its cheaper to keep the order in one place and only pay the shipping once.
Scan and ebuyer are also very good, if you can stretch past £300 you could even stick in an 8800GT and a faster CPU and have a not too shabby gaming machine.
Here is an AMD system with an 8800GT that should be a good gaming machine as well as a good general purpose system.
MSI K9N Neo V3 nForce 560 (Socket AM2) PCI-Express DDR2 Motherboard
Maxtor DiamondMax 20 80GB ATA-100 2MB Cache - OEM (STM380215A)
AMD Phenom X3 Tri Core 8450 2.10GHz (Socket AM2) - Retail
Antec Sonata III Piano Black Quiet Case - EarthWatts 500W PSU
OCZ 2GB (2x1GB) PC2-6400C4 Dual Channel Platinum Revision 2 XTC Series DDR2 (OCZ2P800R22GK)
Asus GeForce EN8800 GT 512MB GDDR3 HDTV/Dual DVI (PCI-Express) - Retail
Comes to £326, there is not much difference between the two systems performance wise and its not going to be top of the line but it is more than respectable.
Edited by warriorscot, 09 September 2008 - 11:54 AM.