Dell E520 should I keep it?

I have a Dell E520 desktop. It needs a hard drive and 2GB of memory. 

DIM E520,Intel Pentium D Processor 915 with Dual Core Technology(2.8GHz,800FSB)

1GB DDR2 SDRAM at 533MHz

250GB SATA II Hard Drive (7200RPM)

256MB nVidia GeForce 7300LE TurboCache

Is it worth spending $80-$100 on the computer?..I would be using it as a backup and for a flight simulator. It has Windows XP now....I was going to install Windows 7... I think it is 8 years old

Thanks for any help!