I'd suggest a PS4 if you can - but a PS3 will work as well(infact it might work better since you can outsource the audio directly to speakers using component cable and video via HDMI -> DVI cable(the signal is the same just the cable format is different). As for not able to use a TV with HDMI can just get a monitor with speakers that takes in HDMI.

I do know of some people that play on below min spec machines with EVERYTHING set to low and turned off everything else really. So it should be playable but I doubt it would be the same enjoyment.