That system seems like a pretty good deal for an OEM to me, still I would recommend building it yourself. If your gaming it won't be sufficient, though it depends on what you class as "gaming". If your talking about flash games and farmville then it'll be fine .
If you are gaming then, it might be a better idea to save up some money and go straight to a nice build. Though you could build a system without an adequate graphics card then when you get the money chuck one in. As said previously the current system would require a new PSU most likely to run a better graphics card.