Ditch Consoles and go gaming pc? Would ths work?

As this console gaming Gen is almost over, would it be wiser to invest in a gaming rig instead.

Last time i had a ps3 was in 2007, got rid of as i was really busy and had no time . I'm looking to get back into gaming a bit, especially games like GTA 4+enb realistic mods and Pcsx2/Dolphin emulation.

Would this build be more than sufficient?

AMD Phenom x4 965-980 ( looking for around 4GHZ atleast overclock)

4GB ddr3 Ram ( not sure which speed yet)

GTX 550 TI

500W PSU



Would this be a better buy instead of waiting around for the Xbox 720 / ps4 .

There's no doubt that PC visuals Own ps3+xbox combined, watched a lot of vids.
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  1. You could go for the Pentium G620 and HD 7750 and get roughly similar gaming performance at a much lower price and with lower power consumption. It would only require a decent 300-350W PSU.

    EDIT: I'd say slightly lower performance but much better value.
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