is this computer worth upgrading or should i just get a new one?

i have a computer with the following specs. is it worth it to try to try to upgrade it for gaming or would it make more sense to just get a new one?
——–[ EVEREST Home Edition (c) 2003-2005 Lavalys, Inc. ]————————————————————

Version EVEREST v2.20.405
Homepage http://www.lavalys.com/
Report Type Quick Report
Computer LVA-MSLAB008 (Middle School Lab 008)
Generator Jams
Operating System Windows 7 Professional Media Center Edition 6.1.7600
Date 2012-01-28
Time 12:44

——–[ Summary ]—————————————————————————————————–

Computer:
Operating System Windows 7 Professional Media Center Edition
OS Service Pack -
DirectX 4.09.00.0904 (DirectX 9.0c)
Computer Name LVA-MSLAB008 (Middle School Lab 008)
User Name Jams

Motherboard:
CPU Type Intel Pentium 4, 2800 MHz (21 x 133)
Motherboard Name Dell Dell DE051
Motherboard Chipset Intel Morgan Hill i865GV
System Memory 2048 MB (PC3200 DDR SDRAM)
BIOS Type Phoenix (01/03/06)
Communication Port Communications Port (COM1)
Communication Port ECP Printer Port (LPT1)

Display:
Video Adapter GeForce 8400 GS
Video Adapter GeForce 8400 GS
3D Accelerator Intel Extreme Graphics 2

Multimedia:
Audio Adapter Intel 82801EB ICH5 – AC’97 Audio Controller [A-2/A-3]

Storage:
IDE Controller Intel(R) 82801EB Ultra ATA Storage Controllers – 24DB
Floppy Drive Floppy disk drive
Disk Drive ST3802110A ATA Device (74 GB, IDE)
Optical Drive TSSTcorp DVD-ROM TS-H352C ATA Device (16x/48x DVD-ROM)
SMART Hard Disks Status OK

Partitions:
C: (NTFS) 76190 MB (48455 MB free)

Input:
Keyboard HID Keyboard Device
Mouse HID-compliant mouse

Network:
Network Adapter Intel(R) PRO/100 VE Network Connection (192.168.1.3)

Peripherals:
Printer Fax
Printer Microsoft XPS Document Writer
Printer Send To OneNote 2010
Printer SMART Notebook Document Writer
USB1 Controller Intel 82801EB ICH5 – USB Controller [A-2/A-3]
USB1 Controller Intel 82801EB ICH5 – USB Controller [A-2/A-3]
USB1 Controller Intel 82801EB ICH5 – USB Controller [A-2/A-3]
USB2 Controller Intel 82801EB ICH5 – Enhanced USB2 Controller [A-2/A-3]
USB Device USB Input Device
USB Device USB Input Device
Battery Microsoft Composite Battery