I don't know how old all the pieces are, some might have come from my old 256 MHz computer (but more likely from my old 556 MHz comp). When something becomes insanely out of date (or if it brakes), I get a new one. But never anything top of the line.
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1. Junk that P.O.S.
2. Accquire $500.
3. Head on over to Best Buy and buy one of their mid-range eMachines, they're quite decent, I've worked on one myself. The newer ones have PCI-E, come with a flat panel monitor, and generally use Athon-64 CPUs. Don't get a warranty on that crap though, you'll be voiding it in step four.
4. Save some more money, slap a new videocard in it and upgrade the RAM to 2GB, you now have a gaming rig.