new/old graphics card on a aging system need some input

Hey guys, yeah I'm new to these forums but i decided since i already signed up i mid as well ask for some input.
Well heres the deal, my friend just got a new GPU and hes willing to sell his old one to me for a measly 40$ so I'm thinking hey great deal....but the main problem is well he had problems with the card before he ditched it for a new one.
The problem that he had explained to me was there was red pixels showing up on the screen when we tried to play a new game he un installed drivers and reinstalled new ones and it wouldn't go away. well he figures it was just the fan that was the problem cuz the card was running a little hot. Well since I'm about to buy it i need to know if that could be the case, or the card is dying like i suspect.

Also i need to know if my junk system will even run the card i got
Athlon XP 2400+ running at 2.0Ghz
512 Mb of ddr ram i believe its 400 but i could be wrong and I'm a little lazy to check the bios at this moment
1 40 gig ide hdd
1 60 gig ide hdd
i have this mobo http://www.pcchipsusa.com/prod-m825gv92a.asp
and my power supply is only a measly 250W

the card i want put in is 9800 PRO agp card

thanks for all the help if i need to give you guys anymore info just ask for it i can give it thanks a bunch  

oh yeah i got the entire system for 300 CDN 2 years ago so i think it was a good deal   haha