As it stands now my old Dell from late 2001 will run most everything *except* new games.
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That's exactly my point. My PC is maxed out in RAM, CPU, and video card/GPU, etc. Virtually any and all software except the very latest games are perfectly happy on it. And probably will be for years to come. Gothic 3, Oblivion, Fallout 3 and a number of others will run well enough. Anything that requires Direct X 10 is a no-go, same for a dual-core CPU.
Can you make a serious and convincing argument that quality games can only be written for machines that run Vista, dual or quad core CPU, 4-8GB RAM, 10,000 RPM RAID, and some sort of Crossfire PCI Express video?
I don't feel I'm alone when I think many game devs are just wanking with the glitz and effects at the expense of good playability in a well-written and intriguing story. They seem to feel we'll be in awe of the effects and the eye candy will camouflage the weaknesses.