Does it come with Win7? If so and it's new, it's a decent deal.
There is a problem with the BFG PSU, as they are gone... no more BFG, no support, and their later PSUs weren't too good.
I put together a similar list with a good case and PSU (win 7 included) from NCIX for about $670.... So if you had someone who could help you or you could build it yourself you could get all new parts for just a little bit more.
I believe it should be able to run it even on Ultra at 1920x1200. I have a laptop, Gateway FX-7805u with 1920x1200, Intel core 2due 2.3GhZ, 4GB ram and 2 OCZ Vertex 2 60GB SSD and run like a charm. I say go for it, you should be fine on high, maybe even Ultra like me.
NOTE: The only thing I dont like the the Power Supply. It may be too low, I wont recommend below 650W with such configuration. The WORST part is that BFG are out of business, and if something happen there is NO RMA no more. Let us know what u do...
^ There are MANY newbies who have done DIY first time around and everything worked out fine. It all depends on your initial planning and the research you put in to it. Even a monkey can build a PC. Seriously. It's like Legos. Spend a few hours doing the research and spec together a basic build and post it under Homebuilt. People here will help you out.