It's a decent price for a decent rig, I really suggest adding a bit more RAM too if possible, and a Phenom II X4 945 and a cheaper PSU instead, 700W is way overkill for two HD 5770s, let alone one. It should play DirT2 pretty well, high to very high settings, although DX 11 may be a problem. What resolution are you playing at?
I didn't know you could choose what direct x you want to use. So I guess I would use dx 9 at around 1680x1050. I'll also look for a smaller psu too. The only reason I chose the 700w psu is because of the cheap combo price with free shipping. Thank you for the info Lmeow.