A bit dated, but generally an okay system. If you can build yourself a system, there are options around that budget.
Were you buying from a friend or somewhere else?
I would lean towards a lower price, but it all depends.
* PSU is a good one
* Case is okay, not my taste, but should be fine
* Mobo is dated and doesn't support the latest AMD chips, but is still a decent Mobo.
* Plenty of RAM for most things
* CPU cooler is quite big!
*GPU is okay, was mid-range in 2009 ish.