i'd still say that the CPU is too weak for 'hardcore' gaming, by which I mean any game, at 1080p, at high settings, at 60fps, including multiplayer. For a reasonable gaming experience, occasionally going below 60fps, medium to high settings depending on the game, at 1080p, then yes it'll do that.
Of course, as you pointed out, this is all based upon having a decent enough GPU to do the above.