To be frank, while that's not a very powerful computer, you could work with it as far as gaming goes if you could find a decent contemporary graphics card for it. Would not recommend a modern one though. Something around 128-256 MB of ram at the most.
The Pentium 4 is going to make things difficult for some of the more or less basic task and is going to severely limit you in the games you can play right now. And the Ram...well while upgrading it to 4 GBs will slightly offset the disadvantages of the Pentium 4, don't exactly expect it to make miracles.
One thing though is that while the Pentium 4 is typically a single core processes, it seems like yours happens to have hyper-threading since it's showing up as 2 processes. That will give you a slight advantage, but again it's not much.
You'd be better off if you where to buy something that's newer with a PCI-E X 16 2.0 or later and equipping a modern low wattage graphics card to it, perhaps something like a Nivida gt 1050 or an RX 560. Or, you could take a chance at a refurbished pc with something like a Nivida GT 1030, I got one for about $250 with 8 GB of ram, a core I5 3000 something and a 500 GB hard drive, windows 10 os.
As far as I know, Here's what I believe will work with your current rig and is available on steam without a graphics card. I've taken the liberty of adding a short description, though I imagine you've probably heard about most of them or can tell what they are by their name.
Civilization 3: A game where you take a civilization from the stone age though the modern age, turn based. Probably the single best game you could buy for your current system.
Sim city 4 Dulex edition: A city building game where you build a city in the modern era.
Immortal cities Children of the Nile: A city building game where you build a city in ancient Egypt.
Angry birds: A game where you launch birds at a fosters with the aim to taking out all of the pigs.
Game Dev Tycoon: a Simplistic simulation game where you try and build a video game company. You start out as a single one man developer team in your garage in the late 1970's and work your way up to the modern gaming era.
Rail Road Tycoon II: A game where you try and build a railroad empire.
Fallout 1 & 2 (Not 3, 4, 76 or New Vegas) Post apocalypse game taking place after a nuclear war between China and America.
Sonic CD: Sonic the hedgehog
Stardew valley: A game where you try and grow a farm from scratch, basically Harvest moon for the PC
Tradewinds I & II: A game where you play as a merchant trading ship and must battle pirates and perform missions for the local governors.
Here's what will probably work but isn't on steam (as far as I know)
Age of empires II (not the HD edition): A RTS game revolving around dark and medieval warfare.
Moon Tycoon: A game about building a base, and eventual economy, on the moon. (Or an Asteroid)
School Tycoon: A game where you basically build a school.
Sim city 3000: A city building game, less demanding than 4
Mall tycoon II: A game where you run a mall
Sim theme park: A game where you run a theme park.
Roller coaster Tycoon: Similar to Sim theme park, but foucsing more on roller coasters
Any of the Yu-Gi-oh Power of chaos games (Joey the passion, Yu-gi the Destiny and Kiba the Revenge):
Basically the classic Yu-gi-oh Card game but for PC. Contains no cards made past the battle city arch.
Now if you where to have a dedicated graphics card with at least 128 MB of graphics memory, then here's what will more or less work with what you have: (Some may work without one but I'm not sure)
On Steam:
Civilization IV: Similar to civilization III, but with more features and better graphics
Flatout: A racing game, not much else to say about it
The Sims 3 (Would only recommend having one expansion pack at most though): A game where you can live an alternate life as a single person or as a whole family.
Spore:
Take a creature from a single celled organism to a space faring interstellar species.
Age of empires 3: A Real time Strategy game revolving around the Colonial and Imperial age.
Hearts of iron III: Sort of like a real time version of the Total war series, except revolving around world war II.
Victoria II: Similar to Hearts of Iron III, Except revolving around the Victorian Era
Medieval II, Total war: A turn biased strategy game revolving around the medieval ages
The original Rome, total war: same as Medieval 2, except revolving around ancient Rome.
Farming simulator 2013: A modern farming game where you get to drive actual farming equipment and grow your farming business.
Euro truck tycoon: Drive a truck around Europe delivering tractors from place to place.
Civ City Rome: A city building game which takes place in ancient Rome.
Spectra Ball: A game where you try to get from place to place as a rolling ball (In a 3D world)
Star Wars Battlefront II (Classic 2005 version) Basically go around as a CIS Droid, Strom trooper, Clone Trooper, or rebel fighter in iconic star wars locations. (Make certain you only buy the version that came out in 2005, not the more recent 2017 version!)
Tropico 3: A game where you build a city on a tropical island.
Call of duty 2: A classic world war II FPS. You get to play as the Soviets, Americans, and British in the Campaigns.
Not on Steam: (Again, as far as I know)
NASCAR 2005, chase for the cup: A Nascar game, but a fun one.
Halo, combat evolved: Fight the alien army known as the covenant on a ring world known as Halo.
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