Will this work? (adding a graphic card to a factory HP comp)

Hi, this is presently my computer:

http://h20564.www2.hp.com/hpsc/doc/public/display?docId=c02858819


I'm looking to install a new gpu (mainly to play more recent videogames such as Path of exil or Skyrim but also use programs such as Photoshop and mangastudio 4). I've read quite a bit to understand how compatibility works, but I just want to check if my plan is possible.

I want to install this new PSU:

http://www.amazon.ca/Bronze-Certified-Atx12V-600-watt-100-B1-0600-Kr/dp/B00EON40CS/ref=sr_1_1?ie=UTF8&qid=1448063808&sr=8-1&keywords=psu+600+watt


To be able to install this new GPU:

http://www.amazon.ca/EVGA-GeForce-Cooling-Graphics-02G-P4-2951-KR/dp/B013WQCC8Q


My questions are:
1. Is this possible at all?
2. Considering my current cpu (Intel Core i3 2100) isn't that great.. does it worth it (or will it limit the use of the gtx950?)or should I just go with a less expensive graphics card?

Any comments or remarks are appreciated.