What would I need for a decent but inexpensive PC gaming setup?

Answer 1

I would first ask the type of games your will be playing.. MMORPG, first person shooters, or games like The Sims?
I also assume you like music..

The basics you will need, that I would recommend:

AMD AMD Athlon 64
1GB Memory (minimum)
160 GB hard drive
Video Card: ATI Radeon series (I like ATI, you can use NVidia)
Good gaming mouse (logitech makes many like the Logitech MX 518)
Operating system: Windows XP Home Edition or Media Edition

Other options to consider: Sound Card, Headset (for in-game voice) and monitor.

You can expand on these.. but basic price without monitor should keep costs low (under $600.00)

Again, it does matter on type of games you will play.. but you can respond back and I'll give you more info. Or better yet post on our clans gaming website in the forums.. http://www.ltpclan.com and goto the forums page.

You can build yourself, if you want to venture that far..
or purchase one prebuilt:

Alienware: http://www.alienware.com/Product_Pages/desktop_all_default.aspx
Falcon NW: http://www.falcon-nw.com/
or
Voodoo PC: http://www.voodoopc.com/default.aspx

Answer 2

I agree with the above, but I'd go for nvidia. I've got a 256mb geforce 7800gtx and it runs everything beyond perfect. Lower class nvidia cards also get the job done.