this is my current system and, while I haven't given up on building a gaming rig this summer at some point, I may have to do it later rather than sooner

I'm REALLY considering dropping some $$ on a nice 20" flatpanel but, other than that, what would you experts do to this system for 1 to 3 hudred?
I priced what has been recommended (schutts write up esp) and that's around $1500. I'll do that but I have some other priorities right now.
Yes Skuzzy it has an AMD processer. I don't much like it either

Compaq s4500nx
Microprocessor Athlon XP 3000+ 2.16GHz
Frontside Bus speed 333 MHz
Processor architecture Socket A (PGA462)
Chipset GL6E nForce2-IGP
Hard drive 120 GB
Drive RPM 5400 RPM
Memory 1.5 MB DDR SDRAM
Memory max 2 GB
Memory speed 2700 MB/Sec
Total DIMM sockets 2-184 pin
Available DIMM sockets 0-184 pin open
Multimedia drive 16x DVD-ROM drive
CD, DVD Rewritable drive CD-RW (48x/12x/48x)
Diskette drive 3.5 inches (1.44 MB)
Fax and data modem Lucent V.92 56K modem
Network Realtek 8201BL
Sound Realtek ALC650
Total expansion slots Three PCI, AGP4x 1.5v
Available slots Two PCI, AGP4x 1.5v
Total drive bays Ext (two) 3.5 inches (two) 5.25 inches Int (one) 3.5 inches
Available drive bays 3.5 inches ext., 5.25 inches ext
Total external ports Serial, six USB 2.0, parallel, two PS/2
Available external ports Serial, six USB 2.0, parallel
Front mounted ports Two USB 2.0
Video graphics (AGP) Nvidia goforce5500
Graphics memory UMA 64 MB
Tower dimensions 16.55 x 6.88 x 14.5 inches (23.8 pounds)
Power supply 200 Watts
wrong forum... would someone please move this one?