Well, um, no.....
That XP Processor is ok, but for gaming, I would go AMD64 series. They are way faster, more powerful (about 21X more to be exact), and they are newer technology. Here is a link to a cheap combo pack. I recommend this if you are on a tight budget.
That processor will blow away any P4 except the P4EE. The only thing the P4 does better is multitasking, but gamers really don't do too much of that anyway> AMD blows away Intel for gaming anyday! Enjoy!!