Nonsense . Older games in particular may even run on high settings, more current titles will need to be turned down. With a 128bit data path, you will probably need to forgo AA. Newer games will likely run on low, but you may get medium on a lot of them.
With your restricted budget you may want to consider a used video card as well, i've had excellent luck purchasing on ebay, about 6 months ago i paid $70 for a 256 bit 460 gtx fermi card. As long as you have the power supply to run it there are plenty of previous generation cards on there that would do way better than 6670's or anthing in that class
That's a good deal.
If you have realistic expectations about the settings you'll be able to use, you'll be happy with a HD6670. For example, read the recent GW2 (a brand new game) benchmark article. The game scales up and can be extremely demanding, but a HD6670 should be able to play on low to balanced settings.