1) Depends is that system a self built or a 'Dell, Gateway, EMachine, etc.'? If the latter NO you can NOT transfer the license, it is bound to the CPU, Mobo and sometimes the actual case as well. The DVD will scan first the hardware and prevent you from loading it / installing it to anything but that model computer.
2) the GPU needs to be replaced as well, it is too old (over 5 years) and would 'bottleneck' any other upgrades your proposing. The current models are 8xx series, to tell you how far behind that card is.
3) your plan for a 'bigger desktop tower' and "something with extra sli slots" is actually 180 opposite to current designs and models. All computer mobo / chipsets are being designed to be SMALL, VERY SMALL, so much so your actually looking at computers being no larger then a hardcover book, and able to play high end games at high end levels, without it costing thousands of dollars to 'custom design'. All the chipmakers are combining "all on the DIE' everything they can, so there is few 'slots' and needs for other add on components (which tend to be where the issues come from of a hardware maker not being compatible or 'unique' that causes computer instability - aka cheap parts / labor). There is little need for 'extra sli slots' unless your using specialized stuff, for example SLI (two or more video cards working together), E-Coin machines, specialized Video Editing machines, etc.
3) Yeah the 700W may be nice, but unless it has the RIGHT connections (considering the rest of the age of the machine I highly doubt it) for the MODERN computer, it will be worthless to consider, especially for the 12V-Rail. That is the key to current PSU qualities, as how well the 12V-Rail performs, and having all the connectors necessary for all the parts.
4) Normal lifespan of a PC: Consumer 5 years, Business 3 years. Why? By that mark the hardware is incompatible with current models of hardware (For example from SATA to SATA III, or old PCI 1.0 vs current PCI-E 3.0b), all hardware is only guaranteed for 3 years of 40 hours a week use (wears out and suddenly FAILS) or the current software demands (Games, OS, applications) exceeds the hardware capabilities.
Please understand the context of the suggestions based on your replies; your speaking of "runs really fast for only being a dual core processor and just about any game almost run max settings" as YOUR measurement stick for those game titles (probably very old ones) and how you may have tweaked things. But that is based on old hardware, old software, etc. as the measurement.
Our suggestions are based on 2013 game demands (COD:Ghosts, AC4:Black Flag, BF4, etc.) , 2014 games to be released and looking at your 'capabilities' for 2015, 2016, 2017 titles / expected demands when in 2018 you again will need to replace the PC to play those 2018-2019 titles. In order to 'meet the demands' because the 2013 titles changed DRAMATICALLY the way games work (the CPU needs to match the GPU performance, because BOTH are used together in game demands). So if 2013 titles are this way, 2014 titles will be more CPU intensive AS WELL as GPU intensive, 2015, even more so and so on.
Hence your investment today ($700 minimally usually without OS) should be one that lasts, and not need to keep 'paying' for parts just to be 'able to play'. The measurement for gameplay is the common 1920x1280 aka 1080p displays, at High Settings for a game, to achieve NO LESS THEN 45FPS during gameplay to have the 'experiance' as seen in TV Adverts or YouTube Videos. We honestly also come to a point (when faced with this PC open architecture keep costing money to keep 'playing' properly) that most people switch to consoles because as closed systems they are required to code the games ONLY in the specific way to harness the exactly same hardware ALL players have, so there is consistent hardware standards, demands, and performance; which all produces systems (PS3 / Xbox 360) lasting 10 years and only a one time cost (no constant upgrading, unless of course your keep buying newer TVs or controllers LOL!). Just some things to consider.
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