If it is running a Sempron processor, upgrading it to an Athlon 64 x2 4800+ (I found em for about $65 on google) would probably help a lot. A new vid card is a must, but make sure whatever you get will fit it your case, especially if it's micro ATX. These days vid cards can get downright monstrous, high(er)-end cards in particular. Slapping more memory in never hurts and it's cheap these days. If you're running XP then 2 gigs is probably ok.
Of course, depending on how much you have to spend it might make more sense just buying or building a whole new rig.
