Ouch. I'm gonna have to upgrade, alright. It has also been rated, so hopefully it will come out in a month or so...

What are the PC system requirements?

Recommended:

3 Ghz Intel Pentium 4 or equivalent processor
1 GB System RAM
ATI X800 series, NVIDIA GeForce 6800 series, or higher video card
http://www.elderscrolls.com/games/oblivion_faq.htm