Your CPU is more than man enough to cope with all the latest games, perhaps not on top TOP settings but it will play them at 1024 @ 32bit with no problems.
It can play all the newest games, but not the highest settings, your processor and ram are very good, its the video card that isnt so good. For the newer games, expect around medium-high settings.
I'd agree with the last post, if you're really looking to test the high settings on your new toy, invest about another 150-200 bucks in a better video card (I got a GeForce 6600 for 150). Then you really can let it rip with anything out there, even at the higher grapics settings.
well my suggesstion is get bf2 if your computer can run it. you can always download hl2 from a cd instead of using steam. I really hate steam I give up on it. I still want my account though. For the future.