How good is this pc for gaming?

Power Supply : 500 Watt With Power Cable Supplied
Motherboard : Gigabyte 78LMT-USB3
CPU : AMD FX 6300 Six Core CPU (turbo 4.1Ghz)
Hard Drive : 500gb Sata Hard Drive
Memory : 8gb DDR3 1600mhz Corsair Vengeance Memory
Graphics Card : ATI 7750 2gb ddr3 (Tripple screen support via DVI / HDMI / DISPLAY PORT)
Software : Windows 7 Home 64 bit

Im planning to buy it, i heard it can play todays games at high settings with good FPS..is that true?
Will it be possible to game+record at once? I might upgrade to 7770 if possible.