processor - intel? amd?
motherboard-
video card - agp? pci-e? ati? nvidia? which card is it?
memory(RAM) - amount of it, 128mb/256mb/512mb/1GB/2GB, dual or single channel?
Processor is just one down from mine, i have the 3200+ and it does just fine for me in games, i also have the 7600GS and that does fine for me too, but i play on medium settings cause im just more used to it. I'd say definitely get another stick of 512mb in there.
The cpu looks fine for the moment. Definitely get some more ram. The next thing you might upgrade is your video card. How much money are you willing to spend?