I know that CS2 had/has an issue that causes really slow performance with video cards with less that 128MB of RAM (
link). I would check to see if there is a similar issue with the software you are using. I would think the processor and CPU would be ok though as they are similar to what I have on several machines.
One way to check is to check the "performance tab" in the windows task manager. This should give you a very basic indicator of how much processor and memory is being used when you try to perform a task. So open it, then run a task that you think is slow while looking at that tab. It is hardly scientific, but if they CPU and memory are not maxed out for an extended amount of time, something else may be the cause.