Will this $500 gaming PC upgrade work out?

CPU: Intel Core i5-3350P Ivy Bridge 3.1GHz (3.3GHz Turbo) LGA 1155 69W Quad-Core Desktop Processor (What does the P mean in i5-3350P?)

http://www.newegg.com/Product/Product.aspx?Item=N82E16819116782

Motherboard: ASRock H61M-DGS LGA 1155 Intel H61 Micro ATX Intel Motherboard

http://www.newegg.com/Product/Product.aspx?Item=N82E16813157315

RAM: G.SKILL NS 2GB 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666) Desktop Memory Model F3-10666CL9S-2GBNS (I'm getting 2 sticks of this)

http://www.newegg.com/Product/Product.aspx?Item=N82E16820231395

GPU: SAPPHIRE 100355OCL Radeon HD 7850 2GB 256-bit GDDR5 PCI Express 3.0 x16 HDCP Ready Video Card OC Version

http://www.newegg.com/Product/Product.aspx?Item=N82E16814102999

AMD Gift coupon: Bioshock Inf. + Tomb Raider (I was already going to buy these games, awesome!)

http://www.newegg.com/Product/Product.aspx?Item=N82E16800995146

Hard Drive: SAMSUNG Spinpoint F3 ST250DM001 / HD253GJ 250GB 7200 RPM SATA 3.0Gb/s 3.5" Internal Hard Drive -Bare Drive

http://www.newegg.com/Product/Product.aspx?Item=N82E16822152226

Power supply I'm reusing: Thermaltake TR2 RX W0134RU 550W ATX12V Ver2.2 SLI Ready Modular Passive PFC PFC Power Supply

http://www.newegg.com/Product/Product.aspx?Item=N82E16817153059

Computer case I'm reusing: Some plain white mid tower ATX

Optical drive I'm reusing: Some plain DVD reader and burner

Operating system I'm reusing: Windows 7 Service Pack 1 32 bit (Will this limit the power of my machine? I already know I can't go over 4 GB of RAM.  Should I get Windows 7 64 bit or look into Windows 8?)

I plan on upgrading this awesome PC in the future with bigger hard drives, solid state drives, Blu Ray player, crossfire, etc... I love PC gaming!

I'd mainly look at better RAM, something of greater capacity (just 1 4GB stick) and also faster 1600/1866MHz

I would not use windows 8, friends have been saying that there are alot of compatability issues still. You could try PAE (Physical Address Extension) on the 32bit OS to allow it to use more than 4GB of RAM, but I do not know how well that would work for gaming.

Could always download a Windows 7 64bit edition and umm *cough* crack it *cough*

- zanginator

The 'P' in the name of that processor means it's a power efficient model, if I remember correctly. Not that other models are particularly INefficient, just that specific model is clocked lower than it could be for the sake of minimizing power consumption.

try getin a AMD cpu they have better low end cpu for the price like a FX 6300 or a FX8150 found this cool one with a cooling kit http://www.newegg.com/Product/Product.aspx?Item=N82E16819106011  ( its the same price as the CPU that you picked and it includes a watercooling loop :D

 

I'd really recommend W7 64bit. If you're buying, I have a great site for you to look at. 

Also, go AMD for this. They have a much better value for your money when it comes to gaming. Trust me. 

Thanks for the advice everybody.  I'll look into getting Windows 7 64 bit in the future.  I'm avoiding AMD CPUs because I don't know of any compatible motherboards that have PCI express slot 3.0 x16.