Opinions are based on judgements, judgements are based on values, no two people share exactly the same values, therefore the opinion of others can only be useful if you know the values upon which they based their opinions. IF it does what you want it to do, and you are happy with it, it is good, and may remain that way for many years. Don't fall into the trap of "mine is bigger than yours". OTOH, if it doesn't make you happy, and you genuinely need more power, then, and only then, consider an upgrade.
I recently purchased a new computer and I'm curious as to how good/bad it is? How long before I will have to replace it? The websites I viewed gave me mixed answers.
CPU - AMD Athlon 64 3400+
Motherboard - GA-K8NS Pro nForce3 250
Video Card - Geforce FX 5700 LE (256MB DDR)
Harddrive - 80 gbs
Memory - 512 mbs pc3200 400mhz (Planning to upgrade soon)
Those are the basics. I didn't include the DVD/CD-RW drive cause I'm lazy. But that is much easier to upgrade than a processor and motherboard.