Simple answer NO. Your machine has DDR2 Memory not DDR3 much faster Memory. Also you can only install 4gb of RAM on this machine. It's time to build or buy New. For adobe I'd say look for an i5 or i7 processor, DDR3 Memory and a descent graphics card. Best of luck...
Hmmm, I wish I had of seen this post before and I would've chimed in with my experience. I have a Dell XPS 420 with a Core 2 Quad 6600 CPU. I also have 8GB of RAM installed, a 160GB SSD system drive, 2 1TB backup drives, and an NVIDIA Quadpro 1GB video card that I run the following on...Windows 8.1 64bit, Adobe Production Suite CS5.5, Poser Pro 2014, Carrara 8.5, Daz Studio 4.6, and HitFilm Ultimate...along with Office 2013.
Now, you can do what the previous posters suggested and buy a new machine. Their advice is not wrong in that sense because core 2 Quad core processors are equivalent to like i5's, only i5's are newer, faster, and have Turbo Boost. However, my 420 still rocks with it comes to HD video, 3D rendering, and other labor intensive jobs. It is more than capable (with the right upgrading) to handle Premier Elements 12 or the Adobe Premiere Creative Cloud. However, one thing to note that I'm surprised the other two posters did not mention...in order to get the 420 to take 8GB of RAM instead of the 4GB that Dell quoted? Just upgrade the BIOS and the rig will take 8GBs of RAM. But if you want to go beyond 8GBs, then follow the previous posters advice.
I'm also using a venerable XPS 420 (Q6600, 120MB SSD, 4GB DDR2 667MHz Ram, ASUS GTX550Ti, + various HDD's) and upgrade the OS from Vista Home Premium 32Bit to Windows 8.1 Pro 64 Bit. The SSD and OS upgrade made a huge difference. No possibility to upgrade the BIOS as DELL's motherboard is proprietary (0TP406, though X38 based, is a BTX board), with a factory LOCKED Bios. The 64 Bit OS, however, is the most important step to making best use of the 8GB RAM max limit on this system. I suppose I should upgrade the computer to 4x2GB 800Mhz DDR2 RAM, but I'm not sure I want to buy DDR2 these days. At this stage, I'm contemplating doing one last project for "fun". The pin mod to OC the Q6600 by tricking the system into thinking the CPU is a faster part than it actually is. If a bump up to 3.0Ghz makes a difference...maybe I'll buy the faster RAM too. This would also force me to take out the shroud/cooler and replace the thermal paste (for the first time). In any event, I'll just run the system awhile longer and then move to strip the viable components for reuse in a self-built desktop. Frankly, as I'm not a heavy gamer, the current setup is doing AOK for me...the upgrading project is just for fun.
This DELL was a decent purchase, considering how long it's been running. That being said, I will never purchase another desktop with a proprietary MB and locked BIOS. Never. Not when you can build, or have built on your behalf, a much higher performing and OPEN specified system that can support significant upgrades.
I bought my Dell system for ~ USD $3000 while working in Malaysia. At that time, I could've delivered a generic specification to a local IT shop and had a hi end gaming system for the same amount. Live and learn.
PS: The power supply was rated for a resource intensive, power sucking, 8800GT self contained oven. It's still marching along quite nicely with a newer, cooler, much more capable and power efficient card. DELL calls it a 425W unit...but its' peak load is actually much higher than that. I suppose I could've gone for a more powerful card...but the GTX550 Ti is OK for my needs.