I recently purchased bunch of parts from amazon.com but now I am out of cash in my account

this is why my ram is kinda low but soon I will get 2 more gb ram. I already purchased an new computer HP TouchSmart but the graphic card is weak and cannot be changed so I decided to build an computer only designed for games. I want to play all latest games in high settings because I play PS3 and xbox 360 and got used to good graphics. Here are my specs:
Motherboard: GIGABYTE GA-EP45-UD3L
CPU (Processor): Intel Core 2 Quad Processor 2.66 GHz 1333MHz 4 MB
OS (Operating System): Windows 7 64bit or maybe 32bit
GPU(Graphic Card): XFX HD487AZWFC Radeon HD 4870 1 GB DDR5 PCI-E 2.0
PSU (Power Supply): OCZ OCZ500MXSP ModXStream Pro 500 Watt Power Supply
RAM: PNY OPTIMA 2GB (2x1GB) Dual Channel DDR2 667 MHz (this will change to 4gb soon)
Case: https://www.amazon.com/gp/product/B002FB65CE/ref=oss_T15_product
Hard Drive: none (need more money)
Power supply is good because I did to much researched and it sayed the power supply that I purchased can reach upto 600watts.
Soo guys what do you think?? will this play all modern games?? This will be my first built pc.
1 second ago