Will I be at least be able to play on high? If not, what is holding me back? The CPU or the GPU? Sorry I'm new to this
Maybe on high, depending on what resolution you play. If 1920x1080 then now. Yours is a good PC, but your CPU is a bit slow. It's a good CPU but it can't do magic. It will run BF3 smoothly though. Maybe you should upgrade to an I5 3570k or a 2500k, those are speed demons and are also quite cheap.