Here is my gaming computer right now:

Pentium 233MMX@275
96mb of PC-66 SDRAM
Western Digital 1.6 & 13.6 gig hard drives
3dfx Voodoo3 2000 PCI
Diamond Sonic Impact S70
Acer 32x CD-ROM
MAG DX17F 17” Monitor
Logitech Cordless Trackman Wheel
Microsoft Natural Keyboard
Road Runner Cable Connection
Windows 98SE

As you can see, it ain't much of a system. But I plan on soon getting a 1ghz+ machine.