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Nelson Ullinskey Forget that one. The graphics card (the most important part of any PC for gaming) is only a GT 640. Passable yes, but for that money really not worth it. You want to at minimum be looking at a GTX 650 Ti really for nVidia cards.
I am planning to get a gaming PC soon too. The best solution really is to build your own - it's not that hard (haven't done it myself yet, but have spoken to people who have done it and it's not that hard). You save money, plus you know exactly what you're putting in. Of course, you need to make sure all of the parts you buy are compatible, but there are tonnes of YouTube videos out there about building gaming PCs.
There is also
PCPartPicker, which can help you choose compatible parts (although always make sure to double check).
If there is the possibility to stretch your budget, here is an example build that will be a very solid system and should be able to play pretty much any game at 1080p with High or Ultra settings (depending on the game).
PCPartPicker part list /
Price breakdown by merchant /
Benchmarks
CPU: Intel Core i5-4440 3.1GHz Quad-Core Processor ($181.98 @ SuperBiiz)
Motherboard: ASRock Z87 Pro4 ATX LGA1150 Motherboard ($99.99 @ Newegg)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory ($64.99 @ Newegg)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($59.99 @ Newegg)
Video Card: EVGA GeForce GTX 760 2GB Video Card ($249.99 @ Newegg)
Wireless Network Adapter: TP-Link TL-WN881ND 802.11b/g/n PCI-Express x1 Wi-Fi Adapter ($14.99 @ Microcenter)
Case: Corsair 300R ATX Mid Tower Case ($79.99 @ Newegg)
Power Supply: Corsair RM 550W 80+ Gold Certified Fully-Modular ATX Power Supply ($79.99 @ Amazon)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($16.98 @ OutletPC)
Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) ($84.99 @ NCIX US)
Total: $933.88
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-02-24 03:49 EST-0500)
If you really don't want to stretch your budget, then I'd suggest this one for just a little bit over $700. So technically it's over $700 but the extra little bit would make a difference here:
PCPartPicker part list /
Price breakdown by merchant /
Benchmarks
CPU: Intel Core i3-4130 3.4GHz Dual-Core Processor ($116.97 @ OutletPC)
Motherboard: ASRock H87M Pro4 Micro ATX LGA1150 Motherboard ($79.99 @ Microcenter)
Memory: G.Skill Ripjaws X Series 8GB (2 x 4GB) DDR3-1600 Memory ($64.99 @ Newegg)
Storage: Western Digital Caviar Blue 1TB 3.5" 7200RPM Internal Hard Drive ($59.99 @ Newegg)
Video Card: EVGA GeForce GTX 660 2GB Video Card ($199.99 @ Microcenter)
Wireless Network Adapter: TP-Link TL-WN881ND 802.11b/g/n PCI-Express x1 Wi-Fi Adapter ($14.99 @ Microcenter)
Case: Fractal Design Core 1000 USB 3.0 MicroATX Mid Tower Case ($39.99 @ Microcenter)
Power Supply: Corsair Builder 500W 80+ Bronze Certified ATX Power Supply ($49.99 @ Amazon)
Optical Drive: Samsung SH-224DB/BEBE DVD/CD Writer ($16.98 @ OutletPC)
Operating System: Microsoft Windows 7 Home Premium SP1 (OEM) (64-bit) ($84.99 @ NCIX US)
Total: $728.87
(Prices include shipping, taxes, and discounts when available.)
(Generated by PCPartPicker 2014-02-24 04:03 EST-0500)
Both of these PCs will be very good (much better than the system you linked) and should last a couple of years at least - only the first one will last a bit longer before you feel the need to upgrade again. Of course, because it's a Desktop PC you built, you can upgrade the bits you need to (generally Graphics Card, maybe CPU) and keep the rest - saving a lot of money!
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EDIT: Just thought I'd mention that I haven't double checked any part comparabilities or anything here - something you must do before you buy anything
If you really really really really really don't want to build your own system then there are options out there. But as a general rule the first thing you should do is work out what graphics card the system uses and search for some reviews of it. Especially look for benchmarks against other cards for FPS in games at 1080p.
