What is your current framerate? Mine is at a steady... 15 FPS, sometimes 20 on a good day.. in particularly crowded/effect heavy areas it drops to like. 4. (that really only gets that bad around hunts though).

I've turned off all effects save for my party, and even physics off for all but myself. I think I may have mostly low graphics settings. The only fight I really truly have trouble with is Titan (he and I have a hate/hate relationship). So it's not impossible to play. Looking at those specs though...no graphics card. If you're going out of your way to get a good gaming PC, splurge a little on a graphics card. (Also personally that HDD space is like...nothing... I would need a TB at least nowadays, but hey...)

(Will admit, I'd RATHER play on a nice system but hey. Work with what you got).