$360 Gaming PC

Is this computer good for the money? 

http://pcpartpicker.com/user/TheAmazingNZ/saved/1GlW

not going with an apu because I want to be able to upgrade my cpu/motherboard/gpu one at a time versus having to replace/buy all three at once. I want to be able to play games like Dota 2, Metro 2033, Mirrors Edge, Borderlands 2, Fallout 3 and Fallout New Vegas on low/medium settings if possible. 

Is there anything I could do better with this build?

http://pcpartpicker.com/p/1keMN

This will perform much better and later you can get an i5 and another stick of ram later and a better gpu.