It should be fine, but the Video card will hold you back slightly. After you upgrade the graphics card to something like a 9800gt or HD4770 for under $100, then you’ll have a very capable machine.
It’s a little more expensive but the power supply and drive are a little better. The Mobo doesn’t have a 64bit requirement to use all 8 G of ram, and it has 2 PCIe x16 slots (only 2 PCI though)
Looks like it doesn’t come with a Graphics card also.
Needs a better video card. a 9800GTX can be had for around $130 or so. I wouldn’t go the 2 graphic card route as that’s just used for some games and it’s far cheaper and you get better performance through 1 card at any rate.