Well, you'll still need a hard drive and an optical drive. Do you need an OS? Keyboard and mouse? Monitor?
Although I'd probably prefer 4GB, a X3 or X4 CPU, and the PSU is overkill (a quality 500W PSU would suffice), it is very hard to argue with those prices. If your budget is tight, that's pretty good.
Otherwise, depending on your resolution and the games you play, the HD5750 may be weak. If you're at 1280x1024 or 1440x900, you should be fine; maybe even at 1680x1050. I'm playing my primary game (Guild Wars) these days at 1920x1080 with only a HD4850, and it runs well; I probably couldn't say the same about Dragon Age: Origins though. Just check benchmarks for the game you play to decide if that video card will be enough.