Hi playdude,
Should be adequate. I use an ancient Athlon machine that has many of your same specs without too much issue, provided that I go into the setup.ini file on any of the games I create and turn OFF post processing, which is a huge CPU hog. Also be careful to only spawn entities you need WHEN you need them (keep your maps small too, build only what the player needs to see, not massive open worlds). If you do those things, then you should have no problems with FPSC on that machine.
Good luck and have fun!
It compiled! Ship it!