You must have 3d acceleration on the video card. Most games these days do anyways. The video card must support DirectX 9.0c and must have more than 32MB preferably a card that is greater than a Geforce 2.
For the CPU, the Celeron is enough to play that game if budget is really tight. But here's a Pentium 4 that is around $20 over your budget:
Intel Pentium 4 505 Prescott 533MHz FSB 1MB L2 Cache LGA 775 Processor - Retail
But your motherboard must support socket LGA775. What is your motherboard socket anyway? Socket 478?