It will be able to run new games but it won't be able to run them at max settings, although if you can spend perhaps more money like $125, you will be able to buy a AMD HD 7770 which will perform the same as a 280 but it will also have DX11 support which all new games have and the difference between DX10 and DX11 is quite impressive.
My GT240 plays most games I throw at it (although I can't use high settings). It was not able to play Battlefield 3 though, so any game in that category, I wouldn't expect it to work. But the 280 is better than my 240, I don't know the difference though.
I play Skyrim, NBA 2K13, Assassin's Creed, etc... I haven't tried Creed 3 yet but I'd expect it to be playable.